Debt Management Plans Chester

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May not be suitable for all.

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Effective Debt Solutions for a Brighter Financial Future

Welcome to our website, where we offer tailored debt solutions to help you regain financial stability. We understand that seeking help with debt can be overwhelming, which is why we provide supportive and non-judgmental services. From Debt Management Plans to Bankruptcy, we are here to guide you towards a brighter financial future.

Make one affordable monthly payment to us and we’ll manage the payments to your creditors for you.

We deal with your lenders on your behalf, taking care of all the hassle and paperwork.

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How do I get started?

Answer a few quick questions

Use our easy online questionnaire to start the debt help process.

Speak to a debt specialist

Our friendly, experienced team will explain all the available options.

Choose your plan

Select the best solution for your circumstances and lifestyle.

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What debt are you most concerned about?

Credit Cards

Over Drafts

Unsecured Loans

Store Cards

Personal Loans

Utility Bills

Business Debt

Catalogues

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Advantages of a DMP

We will manage the contact with your creditors and provide them everything they need. So, as long as you keep in touch with us, your creditors shouldn’t need to contact you.

You will just make one monthly payment to us, instead of paying all of your creditors individually.

In the vast majority (99.48%) of cases, creditors will stop applying interest and charges, so the money you pay will come straight off the balance.

You will have an online account which you can use to view your account and make changes.

If your circumstances change, we will renegotiate the payments with your creditors.

Disadvantages of a DMP

Your creditors don’t have to agree to the repayment, or to freeze interest and charges.

A debt management plan doesn’t protect you from further recovery or legal action from your creditors.

Your credit rating will be impacted because you’ll be paying reduced amounts to each creditor. If you’ve been missing payments to your debts it is likely that your credit report will already have been impacted.

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Bankruptcy in the UK is a legal process where individuals who are unable to repay their debts can seek relief. It is suitable for those with overwhelming debts and no realistic way to repay them. The process involves declaring bankruptcy, which can have a significant impact on credit scores and assets. While it offers a fresh start, there are drawbacks to consider, such as restrictions on borrowing. Seeking professional advice is essential to navigate this process effectively.

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Individual Voluntary Arrangements (IVAs) in the UK are a formal agreement between individuals and creditors to repay debts over a specified period. They are suitable for those with a regular income who can afford monthly payments. IVAs offer the opportunity to write off a portion of debts after successful completion. While they can impact credit ratings, IVAs provide a structured approach to debt repayment. Seeking professional advice is essential to determine if an IVA is the right choice for you.

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Debt Relief Orders (DROs) in the UK are a debt solution for individuals with low income and minimal assets. They provide a way to have debts written off after a 12-month period. DROs are suitable for those who meet specific eligibility criteria and have debts below a certain threshold. While they offer relief from debt, there are limitations to consider. Seeking professional advice is key to understanding if a DRO is the right option for your circumstances.

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Debt Management Plans (DMPs) in the UK are designed to help individuals struggling with debt by creating a structured repayment plan. They are suitable for those with multiple debts who need a manageable way to repay them. DMPs involve negotiating with creditors to agree on reduced payments, making it easier for individuals to repay what they owe. While DMPs can impact credit scores, they offer a structured approach to debt repayment. Seeking professional debt advice is crucial to explore this option fully.

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How does it work?

Let’s say you owe…

Debt Type	Amount
Bank Loan	£5,366.00
Gas Bills	£129.00
Pay Day Loan	£1,989.00
Overdraft	£1,234.68
Debt Collection Agency	£380.16
Short Term Loan	£243.88
Debt Collection Agency	£471.61
Council Debt	£1,009.24
Credit Card	£8,433.00

Total amount owed

£19,256.57

After an IVA

65%
debt written off

IVA Payments
£110
per month

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Example case completed in 2023. Repayment calculated using income and expenditure data. Monthly payments and write off percentages are based on individual circumstances.

Tailored debt solutions in Chester, including Debt Management Plans and more. Find the right solution for your financial needs with Debt Management Plans Chester.