A Debt Management Plan is an informal arrangement between yourself and your creditors that is managed by No Debt Now. We work out what you can afford to repay by discussing your income and household expenditure with you.
We will negotiate with your creditors to repay your debts at a more affordable level including the reduction or freezing of any interest or charges on your accounts. Whilst this cannot be guaranteed, it is something our account managers do constantly and as a result have developed good working relationships with your creditors which all helps toward working out the right plan for you.
You make one affordable payment to us each month, which we distribute on a pro rata basis to your creditors within five working days of receipt of cleared funds, less our management fee. A Debt Management Plan is completely flexible and can be changed to suit your current circumstances.
Your personal account manager will handle the administration and paperwork on your behalf. It is essential that any correspondence you receive from your creditors be posted to us as soon as possible.
Advantages of a Debt Management Plan
The advantages include:
Disadvantages of a Debt Management Plan
These disadvantages may include:
Download an Example Debt Management Plan
Right-click and 'Save As' to download.
For more help with debt, information and advice, contact us online or call us now on 0800 473 0636

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Registered office: 1 Maple Road, Bramhall, SK7 2DH (Photography Credits)
Registered in England and Wales: #6531381 Consumer Credit Licence: 615809
No Debt Now Ltd is a member of the
Debt Managers Standards Association
whose Code of Conduct is approved
by the Office of Fair Trading.


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