Debt Management

Your financial circumstances can change at any time – your job might change and you could be earning much less than you were previously, for example. This means that your finances will be put under pressure too. Debts can get out of control and with them the debtors come knocking.

But rather than panic or ignore the problem, there is a solution thanks to Debt Management. Debt Management companies will take your case and carry out a full means test or audit. This will help them to work out how much money you can afford to pay each month for your debts. By actively seeking help, you are making the debt problem more less difficult in the long run. Best of all, Debt Management companies will negotiate with debtors on your behalf so that a fair deal can be struck. Please find a comprehensive list of companies below.

COMPANY	DEBT OPTIONS	MIN DEBT	MIN MONTHLY INCOME	WRITE OFF OPTIONS	ID REQUIRED	APPLY
Debt Line	Debt Management Plans	£1000	N/A	Not stated	See application for details.
Debt Line	Debt Line help you to solve your debt problems by reducing the amount you have to pay on a monthly basis and stopping the creditors hassle you. You can even apply if you have got bad history and they don’t credit check you first.					Terms Terms All you need is to have at least £1000 worth of unsecured debt, simple! Services Services Debt Management Plans Only Advantages Advantages 1. The online fully online debt management company in the UK. 2. They talk to your creditors so you don't have to 3. One affordable monthly repayment 4. Don't worry about acceptance as there are no credit checks 5 Easy online steps to change your life today Disadvantages Disadvantages 1. Debt doesn't disappear instantly by taking a debt plan.
Clear Debt	IVA / Debt Management	£14,000	N/A	Up to 70%	ID may be required
Clear Debt	Clear Debt help you to get out of debt if you have debts of less than £14,000 and you are able to afford a £100 payment each month. Their debt plans are provided by debt management companies, who negotiate with your creditors to change your debt repayment terms.					Terms Terms You must be able to afford a £100 payment each month Services Services Easy to use analyser Advantages Advantages Free debt advice Have debts lowered Reduce your monthly repayments They handle negotiations with all creditors Disadvantages Disadvantages The arrangements are informal. Your creditors can change their mind at any time. Your credit rating may still be harmed. While such arrangements reduce your monthly repayments to make them affordable it usually means you will pay more in total over a much longer period.
Solve My Debt	Debt Management/IVA	£15000 for IVA	N/A	Up to 70%	May be required to produce wage slips and creditor letters
Solve My Debt	Solvemydebt.co.uk specialise in debt management plans. They will distribute your monthly payments to your creditors - on your behalf. Solve My Debt can also arrange IVAs. Solve My Debts offer free no obligation debt advice - homeowners and tenants welcome.					Terms Terms Enquire for full details Services Services Debt Management and IVA Advantages Advantages Specialists for Debt Management Plans and IVA Disadvantages Disadvantages Not enough information on website- but free enquiry
ClearDebt123	Debt Management / IVA	5,000	50	Up to 70%	ID may be required
ClearDebt123	ClearDebt123 provide trusted debt relief solutions - both Debt Management and IVAs are offered. This UK-based company claims to help you write off up to 70% of your debts. Apply via an easy online form. Both homeowners and tenants are eligible.					Terms Terms The content of ClearDebt123 website is meant to be informational and it should not be considered financial advice Services Services IVA and Debt Management Advantages Advantages Minimum debts only need be £5,000 Homeowners and tenants welcome Disadvantages Disadvantages Must apply to find out more Website is cagey on details Must have at least 2 creditors
Debts.tv	IVA / Debt Management / Consolidation Loans	£15000	£100	Situation dependant	See Website for free Enquiry
Debts.tv	Debts.tv offer 3 types of debt solution projects - IVAs, Debt Management programmes, and Debt Consolidation loans. Just enter your information on the application form online and Debts.tv will suggest to you the best option.					Terms Terms A minimum of 2 unsecured creditors, must be a UK resident and minimum of £15,000 debts for IVA. Services Services IVA, Debt Management and Consolidation Loans Advantages Advantages 1. IVA, Debt Management Plans and Debt Consolidation Loans all available. 2. You will be advised on which is best for you on application. Disadvantages Disadvantages 1. Min Debt £15000
Debt Fixers	IVA / Debt Management	£0	£50	60-70% Depending on arrangement	Apply online for more information.
Debt Fixers	DebtFixers offer IVA and Debt Management products - enter the quick online form and an advisor will advise of the best couirse of action.					Terms Terms Dependant on product - apply online and you will be given the options and conditions of your options. Services Services IVA and Debt Management Advantages Advantages 1. IVA and debt management products offered - enter a quick online application and your options will be offered to you. 2. Min Debt only £0. 3. Min income only £50. 4. Write off options 60-70%. Disadvantages Disadvantages 1. No consolidation loans offered.
Debt Plan	Debt plans	N/A	N/A	Not stated	May be required to provide full ID
Debt Plan	DEBTPLAN Direct are commited to sorting your debts without a loan - pay what you can afford. Reduce and Consolidate debts to just one affordable monthly payment, claim back Unfair Bank, Credit Card and Payment Protection Insurance (PPI) charges on a "No Win No Fee" basis,Stop or reduce interest, charges and harassment from your creditors.					Terms Terms DEBTPLAN Direct are regulated by the OFT and are Authorised by the MAT when carrying out a financial fact find. Services Services Debt management Advantages Advantages No loans - pay what you can afford Interest reduced or frozen Disadvantages Disadvantages Not very much information on website Apply to find out more
Trapped.co.uk	Debt Management / IVA	1500	N/A	Up to 70%	Be prepared to provide lots of ID and information
Trapped.co.uk	Trapped.co.uk offer Debt Management, IVAs and Trust Deeds (Scotland) for people with mounting debts. Apply online for a free calculation of how Trapped.co.uk could help you.					Terms Terms Apply online for more information Services Services Debt Management, IVAs, Trust Deeds (Scotland) Advantages Advantages Lots of well-known lenders sourced All borrowers considered Disadvantages Disadvantages Must fill out full application for a free calculation Lots of personal information required but this is to be expected
Baines and Ernst Ltd	IVA / Debt Management	£5,000	£100	Situation dependant	Personal details, Total of unsecured debt and Proof of income
Baines and Ernst Ltd	Baines and Ernst specialise in a range of services to consolidate your debt and provide the best help to get you back on track. Their Debt Management Plan will provide you with a solution that is suited to your circumstances. They consolidate your debts into a single, affordable monthly payment so that you can be debt free in just a few years.					Terms Terms You must have two or more creditors, over £5000 of debt and a minimum disposible income of £100 Services Services Debt Management and IVA Advantages Advantages 1. Professional and friendly organisation 2. Operate a transparency policy 3. Consolidate and reduce your repayments 4. Fantastic relationships with many established creditors 5. Your Debt Management Plan is fully flexible and can be altered at any time to suit your changing circumstances Disadvantages Disadvantages 1. A debt repayment plan can only cover your unsecured debts and arrears 2. Charge an initial set-up fee (which is equivalent to two monthly payments) and an administration fee of £70. 3. Monthly management fee equivalent to 17.625% of each payment you make to them, subject to a monthly minimum of £35 and a monthly maximum of £100.