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Write off upto 80%* of your debt with government legislation

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Debt Management

Debt management is an informal arrangement plan that is made with the companies that you owe money to with the help of a professional debt help service.

Debt management plans can be very useful and have a number of advantages, as well as factors you might need to consider before starting one

The many advantages of a debt management plan include:

  • One Low Monthly Payment
  • Take Control of Your Debts Without A Loan
  • Help You Regain Control of Your Finances
  • Interest and Charges Are Requested to be Frozen
  • Reduce Creditor Contact Which Can Be Distressing

Factors you need to consider:

  • No Debt Is Written Off Unlike an IVA, Trust Deed or Bankruptcy
  • No Guarantee That Interest and Charges Will Be Frozen
  • You May Receive Creditor Contact In The Early Stages
  • No Legal Protection From Your Creditors

If you think a debt management plan could help you with your existing debt issues, why not get in touch and provide a little information about yourself and your situation, and one of our dedicated debt specialist partners will give you a call. They will tell you whether you qualify for debt help, and will help you understand what options are available to you.

* In some cases and with some debt solutions up to 80% of the debt can be written off. The amount written off will depend on your circumstances, income, assets and the current write-off policy of your creditors. Levels between 25% and 80% are realistic, depending on your ability to repay.

For example with an IVA solution, you complete a questionnaire detailing all your income, assets and essential expenditure, including mortgage if you have one. After you've paid for all of your essentials in the month plus a modest amount for personal spending, the remainder is paid into your IVA. If, at the end of the five year IVA period you still have outstanding debts, your creditors may agree to write off the remainder.

Other solutions apart from an IVA are available, and may be more suitable. The debt advisor will offer advice based on your circumstances.

At BrightDebtSolutions.co.uk we do not give advice. On completion of our form, we will introduce you to one of our authorised debt solutions partners. We will use the contact details that you have given to us on the form to make this introduction and may receive compensation from our partner for this introduction. A debt adviser will contact you by telephone. During that telephone call, the debt adviser will discuss your options in more detail. During this and other subsequent communication, you will be dealing with a debt solutions partner and not BrightDebtSolutions.co.uk.

All solutions are subject to acceptance and eligibility. Further conditions will apply and telephone calls are recorded for your protection. Initial advice is always free but, as commercial companies, our partners do charge for on-going services, if you enter into a debt solution with one of our partners companies, then fees will apply and these are made clear by the advisers and also in the documentation you receive. You have the right to a cooling off period of 14 days. Retained payments may place you further into arrears. Debt write off only applies on completion of the Insolvency Solution and details do appear on a public register. Full details will be discussed prior to entering into any agreement and alternative options may be offered, where considered to be in your best interest. Your ability to obtain credit will be affected for 6 years, even if the solution lasts for less and your assets and property could be at risk. Our partners are all authorised and regulated by the Financial Conduct Authority and comply with their rules and principles of business.

We take reasonable care to ensure that the information appearing on this website is up to date and accurate. Whilst we takes precautions to prevent the occurrence of errors and omissions, the user of this website should not take the accuracy of the information for granted. None of the material contained in this website is to be relied upon as a statement or representation of fact. We do not accept liability or responsibility and it gives no warranty as to the accuracy of this information. We are not giving advice or recommendation by virtue of having provided information on this Website. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law. Under no circumstances will BrightDebtSolutions.co.uk and its employees, connected parties or qualified third party associates accept liability for any decision made or action undertaken as part of reliance to the information contained on this website. Your use of any information or materials on this website is entirely at your own risk. It shall be your own responsibility to ensure that any products, services or information available through this website meet your specific requirements. Your statutory rights are not affected by this disclaimer.

Impartial Debt Advice

To find out more about managing your money and getting free debt advice, visit Money Advice Service, an independent service set up by the Government to help people manage their money.