Debt Management Plans

Debt Management is an informal agreement negotiated with your customers creditors to help them clear their debts. The agreement we negotiate will ensure that their monthly payments are reduced along with the overall debt, thus enabling them to make a fresh start with their finances.

A Debt Management Plan ensures your customer makes repayments they can realistically afford once essential living costs have been taken into account. We will deal with their creditors directly to negotiate lower monthly payments, and will look to arrange for all interest and charges to stop accruing (although this cannot be guaranteed).

Your customer will make one monthly payment to us and this will be distributed to their creditors until their debts are paid off.

The minimum criteria we would consider for a Debt Management Plan is as follows:

• Your customer must have two or more creditors
• They must be able to provide evidence that they are struggling with payments
• They must have more than £5,000 of unsecured debt
• Proof of income must be provided
• Proof of UK citizenship (IVA specific for England and Wales)