Debt Management Solution
A Debt Management Solution is a repayment arrangement we make on your behalf between you and your creditors. It lets you repay your debts at a rate you can afford. A Debt Management Solution, Bankruptcy or an IVA are just some of the solutions available if you are in debt and struggling to make ends meet.
If you are having difficulty repaying your creditors every month, a Debt Management Solution from Baines & Ernst could help – you may be able to consolidate and reduce your repayments, so that coping with debt is much easier.
With a Debt Management Solution from Baines & Ernst – you simply make one affordable payment to us every month which we distribute to your creditors on your behalf.
Our experience in debt management means we have developed long-standing relationships with a multitude of established creditors, such that our Debt Management Plans can often help to freeze or reduce interest and other additional charges, unlike many other debt consolidation services – though this cannot be guaranteed. Furthermore, your Debt Management Solution can be adjusted (or even cancelled) at any time – without penalty – just as your circumstances may change.
What are the criteria for a Debt Management Plan?
- 2 or more creditors
- Over £5000 of debt
- A minimum disposable income of £100 per Month
- Proof of income
What are the criteria for Bankruptcy?
- Can’t afford to pay debt
- No assets
What are the criteria for an IVA?
- Three or more creditors
- Struggling with payments
- More than £15,000 of unsecured debt
- Proof of employment
- UK citizen (IVA specific for England and Wales)
For more information contact us on 0800 096 1651† or fill in the enquiry form.
Expert Advice
Established in 1996, we have helped over 140,000 clients with debt solution advice and have nearly £1 billion of debts under management.
Confidence
There are over 250 Debt Management Companies in the UK, Baines and Ernst is one of only a handful that are audited members of DEMSA (Debt Managers Standards Association). This means that we adhere to the code of conduct as set out by DEMSA, which is approved by the OFT (Office of Fair Trading).
Help hundreds of people every day
With more than 10 years of experience in debt consolidation and financial solutions, every member of our expert team is ready to listen and provide the right debt help for you.
Finances back on track
We provide a free initial consultation where we will discuss your financial situation in order to find the most appropriate financial solution for you (Fees may apply thereafter depending upon the debt solution, which will be notified to you in advance).
Baines and Ernst Ltd