How a debt management plan works

Good for you

• A monthly payment you can afford
• A simpler way of clearing your debts
• Someone to deal with your lenders on your behalf
• A way to regain control of your finances
• Access to expert debt advice

Good for your lenders

• Reliable (if smaller) monthly debt payments
• A professional company to work with
• The knowledge that you're repaying your debts as fast as you can - without them needing to contact you.

5 simple steps to your debt management plan

We make sure debt management is right for you

1

Our expert advisers will discuss your situation to get a clear understanding of your financial position. We'll need to know about all your financial commitments and how much money you have coming in and going out, to make sure that debt management is the right solution for you. Don't worry, your information is held in the strictest confidence at all times.

We work out your repayment proposal

2

From the information you've given us we can calculate how much you can afford to pay towards your unsecured debts each month. We'll work out a proposal that splits this amount fairly between all your lenders.

We take on all communication with your lenders

3

Once you're happy with your payment programme, we'll contact your lenders on your behalf to ask them to direct all correspondence and any questions to us. We'll send them your repayment proposal to show them why you can't afford your current payments.

We'll do our utmost to get your plan approved

4

Over 100,000 of our debt management plans have been accepted by all the major lenders and, in many cases, we're able to negotiate a freeze in interest and charges too.

You make one affordable monthly payment to us

5

Once your debt management plan is agreed, we'll handle all your lender payments and communications on your behalf. And, should you ever need any help, your dedicated Personal Finance Manager is there to oversee your account and help you whenever you need.

But remember...

A debt management plan will affect your credit rating, because your reduced monthly payments will be recorded on your credit history. As such, you should only arrange a debt management plan if you really can't afford your existing payments.

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© 2011 Gregory Pennington Ltd. Pennington House, Carolina Way, South Langworthy Road, Salford M50 2ZY. Company Registration No. 2855061 Registered in England and Wales. Consumer Credit Licence No: 0370188