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0161 464 0870

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How to avoid debt?

Are you tired of living under the shadow of debt, constantly worrying about your financial future? At My Debt Plan, we understand the burden that debt can impose on your life, which is why we’re committed to helping you break free and achieve financial stability.

May not be suitable in all circumstances. Fees apply read more. Your credit rating may be affected, read more.

For free, independent advice, you should visit to Money Helper via their website.
For free, independent advice, you should visit to Money Helper via their website.

Why Choose My Debt Plan?

My Debt Plan isn’t just another financial advice platform — with over 15 years’ experience, we provide honest and confidential debt advice. We are a highly rated and recommended service, IPA Authorised, providing non-judgemental and supportive advice.

Top Tips to avoid debt

  • Create a Comprehensive Budget: Our first step is helping you establish a thorough budget tailored to your unique financial situation.
  • Live Within Your Means: It’s essential to adopt a lifestyle that aligns with your financial capabilities.
  • Build a Robust Emergency Fund: Life is full of unexpected surprises, and having a solid emergency fund is your safety net against financial crises.
  • Practice Mindful Spending: Impulse purchases can derail your financial progress. Track your purchases, focus on needs over wants, and pause before buying to ensure it aligns with your financial goals, .
  • Strategically Repay Debts: If you’re already burdened by debt, we’ll devise a customised debt repayment plan that prioritises high-interest debts while ensuring you stay current on all obligations. Whether it’s through debt consolidation, negotiation, or refinancing, we’ll be there to support you.
  • Explore Income Enhancement: Increasing your income is a powerful way to expedite debt repayment and bolster your financial security.

Already in debt?

Are you feeling overwhelmed by debt? You’re not alone, and help is available. The sooner you take action, the easier it is to get your finances back on track—waiting often only makes things harder.

Reach out to My Debt Plan today for friendly advice and support in finding the right debt solution for you. Call us on 0161 464 0870.

How we can help you?

Check If You Are Eligible

Lets Talk

Tell us about your current debts and one of our experienced and friendly advisors can help you get the ball rolling.

Debt Solution

Dependant on your circumstances and financial situation, we'll let you know if an IVA is a potential solution for you.

We’ve Got It Covered

If you qualify for an IVA, we will take the necessary steps to set up and arrange this for you.

Why our customer choose us?

15 years

experience

Non-judgemental

and supportive

IPA

authorised

Honest and confidential

advise

Highly Rated

and recommended service

Helping you take back control of your finances

Reduce My Debt

Credit Score

Credit Score Pop Up Wording : An Individual Voluntary Arrangement (IVA) is a formal agreement with creditors to repay a portion of your debts over time, but it does have an impact on your credit score and it will be difficult to obtain further credit whilst on an IVA. Once an IVA is approved, it is recorded on your credit report and will typically remain there for six years from the date it starts.
However, it’s important to note this is the case for most debt solutions and your credit score will likely already have been affected by being in debt in the first place.
Once your IVA is complete you will get a fresh start to begin rebuilding your credit rating.

Fees

IVA costs are charged for the preparation of your proposal and the administration of the arrangement for the full term (usually 5 years) these costs are charged from the monthly contributions you make into the IVA and are not in addition. Costs will only be recovered on approval of your arrangement and once you commence making payments to it. The fees for preparation of the proposal to creditors and calling the meeting for creditors to vote on its approval are called nominees fees, the fees for running the arrangement once approved are called supervisors fees. There are also some expenses incurred in the running of the arrangement such as the registration fee and the statutory insurance that needs to be taken by law, these are called disbursements. For our arrangements, the total of all of these is £3,650 although this may be adjusted by creditors when they vote on whether to accept. No matter what the end total of costs come to, you can be rest assured that these will be taken from the monthly payment we agree with you.