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5/5 Rating
Regain financial control and become debt free
A Debt Management Plan is an informal repayment agreement between you and your creditors to pay all of your debts. Debt management plans are an alternative debt solution to formal arrangements, such as IVA's & Bankruptcy.
Get professional debt advice
Our advisors are trained to find the right solution
Get a clear plan to regain control of your finances
Check all debt solutions available to you
Safe, secure & confidential
5.0/5
May not be suitable in all circumstances. Fees apply. Your credit rating may be affected
How it works
We've made it quick and easy to access support and guidance from debt specialists.
Get started online
Use our online form to tell us about yourself, finances and debts.
Let's have a chat
One of our specialists will then assess your case and check your eligibility for suitable debt solutions.
Choose your solution
Once we’ve discussed your options, it’s over to you to decide what you'd like to do, with a clear path to get out of debt.
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Money Helper is an important service set up by the government. They provided free debt counselling, debt adjustment and credit information. Money Helper is part of the Money & Pensions Service. We are not affiliated with Money Helper in any way
How do Debt Management Plans work?
-You can only afford to pay a small amount to creditors each month
-You have problems with debt but will have the ability to make repayments within several months
-You can organise a payment plan with your creditors yourself, use a licensed Debt Management Company (fees are charged) or via the free sector
-Payments are made regularly to the company
-The company divides the money between all your creditorsBenefits and Considerations of a Debt Management Plan
Benefits of a Debt Management Plan
-You only pay one affordable payment to the DMP company
-Flexibility – The payment is flexible depending on your circumstances, it can increase or decrease
-Payments can be reduced & interest rates can be frozen by creditors, however, they are not obliged to do this-Some charities & organisations provide this service free of charge (you can contact the Money Advice Service for more information)
-Avoids the need for a Formal Insolvency Procedure
Considerations of a Debt Management Plan
-All the creditors need to agree to their individual arrangement for this plan to be effective
-Interest & charges are not guaranteed to be frozen
-Your credit rating is affected as your monthly payments are not contractual
-Debt management plans can affect your credit file for a minimum of 6 years, as in most cases you will have defaulted on the original credit agreement terms once you enter into the arrangement
We're Rated 5 / 5
'Kind, friendly and professional'
“All personnel whom I dealt with were kind, friendly and professional. All my questions were answered and all details were explained crystal clear. Made setting up my IVA easy.”
Damien Tobin • 2 days ago
'Excellent service'
“Great service, friendly and professional and explained everything in detail and any questions I had”
Paul in Plymouth • 2 days ago
'They did all the hard work'
“Abbbotts has helped me so much to sort my finances and get an IVA in place. They did all the hard work. Thank you so much for making my life less stressful with sorting my money out”
Louise Peach • 8 days ago
5.0/5
Verified Review
'Kind, friendly and professional'
“All personnel whom I dealt with were kind, friendly and professional. All my questions were answered and all details were explained crystal clear. Made setting up my IVA easy.”
Damien Tobin • 2 days ago
Verified Review
'I would recommend anyone to Abbotts who were in same situation'
“Very polite and professional, made everything easy and understable.”
Paul in Plymouth • 2 days ago
Verified Review
'They did all the hard work'
“Abbbotts has helped me so much to sort my finances and get an IVA in place. They did all the hard work. Thank you so much for making my life less stressful with sorting my money out”
Deborah Hudson • 3 days ago
Verified Review
'Brilliant team and soo helpful put our minds at ease'
“Service was amazing and soo helpful”
Thomas Harris • 8 days ago
Verified Review
'Fantastic Service'
“My iva went through this morning, once I'd been honest about what I owed it a relatively easy process. I've been kept informed every step of the way and I can honestly say I feel like a weight has been lifted”
Sharon Tasker • 12 days ago
Verified Review
'Absolutely A1'
“They put me at ease and kept me updated as things went along. They explained everything in laymans terms making it easier for me to understand. They are brilliant.Thank you Cherelle for all your help. Would highly recommend”
Jennifer Stringer • 13 days ago
Verified Review
'The most easiest stress free process'
“Customer service was spot on, helped me with things I didn’t even know about, gave me numerous options.. never told me once I couldn’t do this or that!”
Jessica-May Scott • 13 days ago
Verified Review
'Really friendly and helpful service all the way through'
“Kept totally up to date on what was happening and thoroughly explained all parts of the process. Would recommend to anyone in a similar situation looking for help.”
Matthew Simmons • 13 days ago
Verified Review
'Great service'
“Matt and jasmine were very knowledgeable and easy to deal with, they made the process easy and surprisingly quick. Very professional.”
Jonathan Amato • 19 days ago
Why us?
At Clear My Debts we believe that a friendly, personal service from a dedicated team of experts makes your debt solution more likely to succeed.
Professional
Our team specialises in debt solutions like IVAs
Client Satisfaction
Rated 'Excellent' based on client reviews
Clear Fees
Clear and fair fee structure for our services
Understanding
We listen and never judge. We're here to help you achieve a brighter financial future
5.0/5
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