How much does a Debt Management Plan cost?
If you are in debt, you want to avoid any additional strains on your finances – we understand that better than anyone.
That’s why we charge fair, uncomplicated fees, which are fully included in your monthly payment. There is no set-up costs.
Whether you are starting a Debt Management Plan for the first time, or switching to us from another organisation, we’ll first agree what you can actually AFFORD to pay based on you income & outgoings. We’ll agree the most convenient day each month for you to make payments, as follows:
- 1st Monthly Payment: £1 interim payment to each creditor, plus £29.95.
- 2nd Monthly Payment onwards: Agreed Monthly Payment distributed to creditors, less £29.95 Monthly Management Fee.
This means that more of the money you pay goes to paying off your balances, so you can clear your debts sooner!
On top of that, you will enjoy peace of mind knowing that we offer you genuine debt management advice, and let you know whether or not our services are right for your circumstances.
Compare debt management plans
To see how much better off you could be with us, please compare our fees below:
Your Debt Management Plan comparison **
| Company | Initial Administration Fee | Monthly Management Fee |
|---|---|---|
| Money Debt & Credit | First month payment only (includes £1 to each creditor) | 2nd month onwards, only £29.95 |
| Debt Free Direct | First two monthly payments | 17.5% of monthly payment Min £30, Max of £100 per month |
| Gregory Pennington | One monthly payment | 17.5% of monthly payment Min £34.50, Max £90 per month |
| Kensington Finance | First two monthly payments | 17.625% of monthly payment or £39.95 per month |
| Baines & Ernst | First two monthly payments | 17.625% of monthly payment Min £35, Max £100 per month plus £40 per annum |
A Debt Management Plan should be your one way path back to financial stability – it should not be a financial burden at a time when you need help most.
Get in touch today and learn how we can get your finances back on track with minimal cost. We will be more than happy to answer any questions if you need more information.