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Fees & Charges

*Some of our debt solutions are provided by 3rd parties. If you take up a debt solution with one of these 3rd parties, they will explain their fees directly to you. If you choose to proceed with one of the options discussed with the 3rd party company we work in conjunction with, we may be paid a commission. To be clear, this commission is not paid by you, as it’s a free service. It is paid by them, to us, for the work we do on their behalf.

Debt Management

You will make one, affordable monthly payment into your plan, which is worked out by taking all your regular spending (including safety nets for one-off expenses) from your total income. We work with you throughout the plan to ensure your budget allows you to live comfortably

The plan is very flexible, so you can change the amount you pay whenever your income or regular expenses change. For example, if your income drops, then you can lower the amount you pay accordingly.

Our Fees

Our fees for setting up and managing your plan are taken from your agreed monthly payment, so there is nothing extra to pay.

Set-up Fee

Whilst we’re setting up your plan, we’ll charge 50% of your payment from each of your first 2 monthly payments. This fee covers:

  • Identity check and reviewing documentation
  • Initial contact with all creditors to notify them about your plan
  • Negotiation of monthly repayments with all creditors
  • Handling all correspondence, you send to us
  • Regular updates to let you know how everything is going
  • Budget check-ins to see if changes to your budget are needed

Ongoing Management Fee

After month 2, we reduce our monthly fee to £7 per creditor each month (subject to a minimum fee of £25, capped at £70) once the core negotiation work on your behalf is done. Any fee we charge is capped at 50% of your payment. So, if you need to make a reduced payment, then we ensure more than half of your payment is distributed to your creditors.

This fee covers:

  • Ongoing management of creditor contact
  • Monthly payments to all your creditors
  • Monthly statement of account
  • Annual review of budget and plan suitability
  • Help and support from our Customer Services team when you need it

If you are unable to pay in any month, then no fee is charged.

There are no other fees for running your debt management plan.

Below is an illustration of the cost of a typical plan:

Non priority debt£5,000
Number of creditors5
Monthly payment£150.00
Monthly Set-up fee – Months 1 and 2£75.00
Monthly management fee – Month 3 onwards£35.00
Plan length45 months
Total amount payable£6,655.00
Total fees payable over the period£1,655.00

In this example, all interest and charges have been frozen

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