Debt management: What debts can I include?

When dealing with debt becomes unaffordable, overly complicated, or both, many people turn to a debt management specialist like Gregory Pennington.

Gregory Pennington’s Debt Management Programme can deal with unsecured debts – debts not secured to goods or property (a house, for example, or a car or TV).

Unsecured – the Debt Management Programme can deal with:

Bank overdrafts. Authorised or unauthorised.

Personal loans. Loans not secured against property.

Credit cards. e.g. Visa or Mastercard.

Store cards. Like credit cards, but they can only be used in a certain shop.

Catalogues. Or mail orders.

Overpayments of benefits / Social Fund Loans. Money you owe to the Department of Work and Pensions (DWP) – but only if you’re no longer receiving benefits (except tax credits and child benefit).

Mortgage & Hire Purchase shortfalls. Not the mortgage / hire purchase itself, but the shortfall:

Outstanding balance minus Value of the property or goods equals Shortfall

Example: You still owe £3,000 for your hire purchase car.
It is repossessed (or you surrender it to the creditor) and it is sold for £2,000.
This goes to the creditor, so you still owe them £1,000 – this is the shortfall.

Utility bills. But only if they’re

1. from a previous property, or
2. from a utility provider you’re no longer with, or
3. water bills – but only if:
   • they’re from a previous year, and
   • the water company has called in a debt collector

Click here for a list of debts that cannot be included on the
Debt Management Programme.