Find your debt solution
How does a Fee Free Debt Management Plan work?One of our specialist debt advisers will review your situation to understand if a fee free Debt Management Plan could be a good option for you. They want to understand how much you can afford to pay towards your debts each month after you have paid all of your essential bills and accounted for day to day living costs. A single monthly payment will then be agreed between you and your creditors. Your repayments will typically be lower and over a longer period, enabling you to manage your debt more effectively. There are no fees to pay with your DMP, it is a fee free plan. We will negotiate with your creditors for our fee to be paid by them. They do not have to opt in to pay, if they don’t we will still act on your behalf and manage your plan. The important thing for you is that no fees will not be deducted from your payments.
Advantages of a Fee Free Debt Management Plan
One affordable monthly payment
100% of your monthly payment goes to clearing your unsecured debts
You will keep your home if you stick to the plan
We will deal with your creditors for you
The plan is confidential, no-one needs to know
ClearStart don't charge customers for their services
Things to consider
When considering a debt solution it is important to fully consider all of your options.
• Your DMP is an informal agreement and so your creditors can change their mind at any time.
• There is no legal protection from your creditors when you are in a DMP.
• Interest and charges may be added; making this decision is up to your creditors.
• Debts could increase if you don’t complete or adhere to the conditions of the DMP.
• Once your DMP has started, most creditors will apply a note to their records saying that you are on a DMP with us.
• Your creditors will share the amount that you are paying with credit reference agencies. If you are paying less than the required monthly payment, then you will find it harder to get further credit.
• You are responsible for your debts. Though we are managing your DMP, your creditors can still choose to take legal action, even if they have agreed to our offer of payment. However, most choose not to do so once you have started a DMP.
• You can’t include loans from family or friends in your DMP.
• If your debts are guaranteed by another person, the creditor may contact that person for additional payments. Please ask any person guaranteeing your debts to contact us if they need advice on this matter. If your debts are jointly held with another person, your creditor may contact that person for additional payments. Please ask any person jointly responsible for your debts to contact us if they need advice on this matter.
There are free sources of advice available to you. If you would like further details or advice, you can go to the Money Advice Service (www.moneyadviceservice.org.uk).
Is it right for me?
If you have debts of less than £9000 a Fee Free Debt Management Plan may be right for you
A Debt Management Plan is typically suitable for people who have unsecured debts of less than £9000 with more than two creditors. You should also have at least £90 a month disposable income to go towards your debts.
At ClearStart we believe it's important you get all of the right advice and support before you make a decision. That is why we don't charge fees for our initial advice. If you decide a Fee Free Debt Management Plan is right for you then you won't pay any fees for the lifetime of your plan as we negotiate with your creditors for our fee to be paid by them.
For confidential, no-obligation advice on the right debt solution for you, contact one of Clearstart’s Debt Specialists today. It could be your first step towards a Brighter Future.