Debt Management

Does this sound like you?

"We owe money to the Inland Revenue. It's a real worry"
"VAT is due. The cash just isn't there to pay it"
"I can't pay our bills. Suppliers won't wait any longer"


For all kinds of reasons individuals and companies may need help managing the way they pay creditors. Whether your debts relate to credit card bills, bank borrowings or a business that’s in difficulty, there are more options available to you than you probably realise.

Debt consolidation involves taking out one or more 'further loans' to repay all, or most, of your debts. The amount you are able to borrow will depend upon your ability to meet the required instalments or whether you can offer personal assets or a guarantor to secure your borrowings.

The rate of interest charged will be at a market rate which is likely to reflect the risk of your default to the lender.

Debt consolidation may be combined with a debt management plan to further reduce your regular instalments over an extended period of repayment. Neither Debt Consolidation nor Debt Management Plans require your creditors to write off some of your debt. These schemes are designed to assist your cash flow by allowing you to repay your creditors, in an organised way, over a much longer period of time.



  • The number of creditors you have to deal with is reduced.
  • A number of regular payments can be combined into one.
  • Interest charges may be less.
  • Payment commitments are simplified and are more manageable.
  • Your credit rating should not be affected.
  • An insolvency process is not required.


  • Interest charges may be higher.
  • The lender's terms may be stricter than those of the creditors you are currently repaying.
  • You may be required to secure your further borrowings against a personal asset eg. your home.
  • There may be default and/or early redemption charges on your 'further loans'.
  • You may be required to pay loan protection premiums.

Unlike an Individual Voluntary Arrangement (IVA) your debts are not reduced, you just replace one set of debts with another. If you do not keep up with the Debt Management Plan repayments you may end up becoming insolvent and applying for bankruptcy. Click here to find out more about insolvency and bankruptcy.

To talk to our Debt Management team call 01277 236200 or email This e-mail address is being protected from spam bots, you need JavaScript enabled to view it