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Debt management is what it says it is. Help with managing your debt. Life can take a downward spiral if you’re struggling to meet monthly payments on your debts and it can sometimes be hard to see the woods for the trees.

Debt management companies can help you get back on your feet. They will assess your situation and discuss a range of strategies. They negotiate directly with your creditors – be they store cards, credit cards or loans - to agree lower monthly repayments that you can afford and in some cases are able to have a portion of your debt written off.

Working closely with you, a debt management advisor will look at your levels of debt, who they’re with and your monthly income. From this they can ascertain what you could afford to repay each month and can advise which route of debt management would best suit your situation. There are various options available depending on degree of your debt and your ability to repay. The simplest is a debt management plan, the most extreme, bankruptcy. Other options include a legally binding IVA or for those on very low incomes or with very few or no assets, a debt relief order.