A Debt Management Plan (DMP) is used to reduce your payments into one affordable amount.
You can arrange a plan with creditors yourself, through a licensed debt management company for a fee or through a charity.
The company works out your monthly payments. You’ll have to give details about your financial situation, e.g. your assets, debts, income and creditors.
Get more information on debt managed to see if its the right plan for you.
As the plan is flexible you can review your monthly payments if your circumstances change.
Your credit rating will be affected as your creditors may issue default notices.
National Debt Advice connects you to a partner company which is an FCA authorised Debt Management provider. As part of their processes, they will discuss all possible options with you, to enable you make an informed decision on the option that is best for you.
Get more information to see which plan is best suited for you.
Designed to put you back on track
A good solution if your debts are over £5,000, an IVA can help clear up to 81% of debtsMore info
Help if you have debts of £2,000 or more. Reduce monthly payments
Help if you have little or no disposable incomeMore info
For those with little spare income and low value assetsMore info
Money Helper is an important service set up by the Government. They provide free debt counseling, debt adjustment and credit information.
We specialise in providing and administering Individual Voluntary Arrangement (“IVA”) solutions to individuals based in England, Wales and Northern Ireland. We do not administer Debt Management Plans, Debt Relief Orders, or any other debt solutions.
Sarah North is authorised in the UK to act as Insolvency Practitioner by the Insolvency Practitioners Association
Registered Address: Sandfold House, Sandfold Lane, Levenshulme, M19 3BJ. Tel: 01625 801007.
We only provide advice after completing or receiving an initial fact find where the individual(s) concerned meets the criteria for an IVA, therefore, all advice is given in reasonable contemplation of an insolvency appointment.
We are a fully licensed and regulated insolvency practice specialising in the provision of Individual Voluntary Arrangements (IVA’s). In 2020 we helped over 500 people successfully enter an IVA and supported a further 2,700 people by referring them to a fee free or charitable debt advice service provider.
*The amount of debt write off is based on your own personal circumstances.
As of 28th September 2021, 37% of customers are estimated to write off 81% or more of unsecured debts included in the IVA.