Debt Management Plan
Consolidate debts into affordable, flexible payments without getting another loan.
- Payments to suit you - monthly, weekly, 2 or 4 weekly
- We deal with your creditors.
- Payments from £80 per month.
A debt management plan allows you to repay your debts at a level based on what you can afford, rather than how much you owe.
We will then negotiate with your creditors to accept a reduced payment, which will allow you to meet your living expenses.
Debt Management Plan - Key Benefits
Did You Know?
Currently about 750,000 people in the UK are using a debt management plan to repay their debts.
No more struggling to find money you haven't got.
No more juggling many payments to your creditors all on different days. You make a single payment to us and we make timely payments to your creditors on your behalf.
- Less stress
No more harassing calls and mail. We deal with your creditors/debt collectors for you. Refer any creditor letters and phone calls to us and we'll represent you.
If your circumstances change, you may be able to lower or raise your payments accordingly or decide you no longer need our services. There is no binding contract.
- Interest stopped on debts*
In the majority of cases, we are able to get charges stopped and future interest suspended.
- Creditor action specialist
Debt Management Plan Example
If your monthly repayments are as follows:
Credit Card 1:
Personal Loan 1:
Personal Loan 2:
After entering into an debt management plan they could be:
New monthly payment
Payment levels are based on the affordability of applicant & subject to creditor acceptance.
Interest Stopped on Debts*
We currently have agreements in place with 91%* of creditors to freeze interest and to stop charges on our clients' debts. This includes the majority of the pay-day type lenders. Whilst we can't guarantee that any creditor will agree to do this for any given debt, we generally expect them to do so once a reduced offer of repayment has been accepted.
(* 91% of creditors by total value of debt under our management on behalf of clients)
Why Harrington Brooks?
Here at Harrington Brooks, we believe that with financial troubles, every situation is unique. We therefore take a holistic approach to debt solution, providing a full financial review, creditor action support, benefit checks and utility and media switching as part of our service.
Creditor Action Support - We're on Your Side
We have excellent relationships with the majority of creditors and we're very successful in getting arrangements in place with their full support. However in a few cases, threats of further action will be made. Don't worry. We have an experienced creditor action team to help and to take action on your behalf. See Creditor Action Support »
Benefit Checking - Don't Miss Out
When reviewing your financial affairs we look to see if they are any State Benefits to which you or your may be entitled to, but are not receiving. For recipients of these claims, we help to increase their income by (on average) £900 per year. See Benefit Checking »
Utility Switching - Start Saving Today
In partnership with USwitch, we provide our clients with a Utility Comparison and Switching service. This ensures they are on the most suitable tariff for their location and usage, which can save up to £400 per year on household bills. See Utility Switching »
*Tip, move the sliders with your mouse, or click to select a slider then move with your keyboard arrow keys. You can also enter digits into the boxes.
Before entering into a debt management plan, you should be aware of all the implications, your rights and the fees involved. Please see key information and fees.