Best Debt Management Companies|Recommended Reputable Debt Management Companies

About Debt Management Plans:
How They Work and The Importance Of Reputable Companies

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Best US Debt Management Companies
Best UK Debt Management Companies

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And What Is The Definition Of Debt Consolidation

Debt Management Plans are one of the most popular informal arrangements for dealing with debt in the US and the UK. These are only available for unsecured debts (ie you can't use them for your mortgage or secured loans). So this solution will only really apply for dealing with your Secondary Creditors.

To take on a Debt Management Plan you must have some money available each month in addition to what you need to cover your priority creditors (see page on prioritising creditors). So if you have done a Personal Financial Statement, check that it shows you have some surplus income left after paying your priority creditors before you sign up for a Debt Management Plan.

If your available income is low, you may need to look at Debt Settlement instead if you are US based, or for UK residents, you should consider an IVA. Both of these options involve writing off substantial proportions of your main debt.

What Are Debt Management Plans?

Debt Management Plans are informal arrangements set up with your creditors to pay them back what they are owed in regular installments, usually at a reduced rate. While it is possible to set up such arrangements with each creditor yourself, a Debt Management Plan involves using a Debt Management Company to deal with your creditors and negotiate with them on your behalf. The advantage being that they are obviously very experienced in negotiating substantial reductions, and the new terms they agree should more than make up for the fact that you have to pay for their services.

This can be particularly useful if you are not confident about negotiating with creditors and you want to be free from the hassle of your creditors chasing you. While some debt management plans can appear to be free, the debt management company will usually build their fees into the monthly payments that you have to make.

Advantages of Debt Management Plans:

The negotiations with creditors is done for you by the debt management company

Your creditors should stop hassling you

You only have one regular affordable payment to make instead of lots of separate ones

Usually means freezing or reducing interest charges

It avoids borrowing more money to pay off existing debts

The debt management company can help to prepare your financial statement if you are not confident about this

The informality of the agreement should mean you have more flexibility to adjust payments if you circumstances change, or cancel it at any time

Other Considerations with Debt Management Plans

As with any commercial solution to debt, the debt management company will charge for their services, usually in the form of an admin fee included in your monthly payment

Unlike an IVA, a Debt Management Plan is an informal agreement, so your creditors cannot be forced to agree to participate

You still have to deal with your Priority Creditors, as Debt Management Plans only deal with Secondary Creditors

Debt Management Plans -
Points To Check Before Committing Yourself:

Approach more than one Debt Management Company (see recommendations below) and compare the payment plans they can offer

Before you sign up, make sure you are aware of any fees, including any which are payable up front

Check to see if you can cancel the agreement whenever you want to

Recommendations For The Best Debt Management Companies

You should ensure that you get advice and quotations from two or preferably three debt management companies so that you can compare what is being offered and make a decision based on which provides the best value for you.

To help you avoid some of the companies that are likely to just give you advice based on what will bring them the biggest profit, I have recommended some of the best debt management companies, who are all reliable, good value and reputable.

Remember - Debt Management Plans are only suitable if you have considerable unsecured debt to several different creditors. They do not apply to secured loans or mortgages. You should also have a steady income and some money spare to put towards a regular monthly payment.

The following recommendations are for some of the best companies in the US and UK. The US ones are listed first, with the UK ones below.

It is important to select a company that operates in your own country or they will not be able to help you.

US Debt Management Companies
(see below for UK):

Remember - Ideally Apply To All Three of these and compare Offers

CuraDebt (US Only)

Read a full Review of CuraDebt here

Without doubt one of the largest and most experienced debt companies in the US, CuraDebt are unusual in offering both debt management and debt settlement, so they can offer whichever option works best for your particular circumstances.

Curadebt have been helping US citizens with money problems since 1996 and have a proven track record of success. One advantage of this is that they already have established relationships with many of the most common creditors. Curadebt have already helped thousands of people to take back control of their finances and become financially solvent again.

Curadebt are unusual in providing you with a written guarantee of results. They also undertake business debt settlement for people who run companies that are experiencng debt problems.

Minimum Requirements For Help From Curadebt

For Curadebt to be able to help you, you must have at least $5,000 worth of unsecured debt. Curadebt can assist people in all US states EXCEPT CO, CT, DE, GA, IA, ID, IL, KS, KY, MD, MN, MS, MT, NH, NJ, SC, UT or WI.

How To Apply To Curadebt

The online application takes literally seconds, with just eight fields to complete. Just fill in the very simple online form, and then you will get an automated phone call which is just to verify your phone number. This message will give you a PIN number that you need to enter to validate your application. Please note, it is very important to complete the application form accurately and to respond to the verification message, otherwise your application will not be followed up.

Once your application is validated, an experienced debt advisor will get in touch to go through your finances with you.

CareOne Credit Counseling (US Only)

Read a full Review of CareOne Credit Counseling here

One of the most well established debt consolidation companies in the US, CareOne have already successfully helped over 4.5 million people. The fact that they are so experienced means that you also benefit from them already having relationships with many thousands of creditors, which will help to achieve the best possible solutions.

In order for CareOne to assist you, all that is required is that you are a US resident with at least $2,500 worth of unsecured debt to at least two creditors.

To find out if CareOne Credit Counseling can help you, just complete the very brief online form and they will get straight back to you.

American DebtEnders (US Only)

A well established organisation that offer a range of services including both Debt Management and Debt Settlement. They have extensive contacts with all the major credit card companies.

To be eligible for help you should have at least $10,000 worth of unsecured debt and a source of income. For free advice from an advisor submit the online form here.

Debt Consolidation Care (US Only)

An excellent company with an outstanding track record, having already helped over 150,000 people to get out of debt. You just fill in an extremely brief online form and a debt counsellor will phone you back. They will go through your finances with you and then suggest the solution that they think is best for your particular circumstances.

They offer a range of ways to pay off debt, so even if the debt counsellor thinks a debt management plan is not the best option for you, they may be able to offer something esle that is more appropriate.

If you decide to go ahead with their proposal, the debt counsellor will also help you with budgeting and give you advice on how to improve your credit rating. Visit their website now.

UK Debt Management Companies:

Remember - Ideally Apply To At Least Three of these and compare Offers

Top Choice: 123DebtSolutions (UK Only)

This is my top recommendation, so I have added an Online Form to this site to make it easy for you to get debt help from 123DebtSolutions.

This company specialise in helping UK residents to get out of debt, and offer a range of solutions inlcuding debt management plans and IVAs.

An experienced debt advisor will be appointed to deal with you throughout the process and you will get regular updates to show you exactly how things are progressing. They will stop your creditors contacting you and try to reduce the interest charges you pay.

To be offered a debt management plan by 123DebtSolutions, you will need to have at least £3,000 worth of unsecured debt to at least two creditors. Visit their website and complete the simple online form and they will get straight back in touch with you to discuss your situation. Alternatively, you can apply direct by completing a form on this site.

Best Debt Management Companies:
SolveMyDebts (UK Only)

well respected and excellent value, SolveMyDebts have very experienced debt advisors who will go through your finances with you and give you honest advice on which debt solution is going to get the best result for your particular situation.

To apply for a Debt Management Plan you must be:

UK Resident

over 18 years of age

Be struggling to pay debts of at least £5,000 to two or more creditors

To find out how they can help, just visit their website and fill in the simple 'urgent enquiry' form on left of page. They will then make contact with you within 24 hours to work out the best solution to your problem. Make sure you complete all fields on the form fully and accurately to prevent errors or delays.

Fully Online Debt Management: Debt Line

Debt Line are a very experienced UK company with a track record of helping thousands of people to get out of debt every year. You only need to be aged over 16 years of age and with debts of over £1,000 to be considered for debt help.

They have a very straightforward online form that takes you through several stages of very simple questions to give them some basic information. Completing the form commits you to absolutely nothing except a free evaluation of your situation and some expert advice on how to deal with your situation.

To see if Debt Line can help you, just complete their Application Form, making sure you provide accurate information so that they can contact you and properly assess your situation.

Express Debt Solutions (UK Only)

EDS have many years experience and pride themselves on taking a personal approach to every customer and coming up with a solution to meet your particular needs. Highly respected for their friendly and professional service, they will advise you on all your options and leave the final choice up to you, without putting you under any pressure.

Just go to the homepage of their website and click on the Apply Online button to complete their online application form.

Best Debt Management Companies: DCM Money (UK Only)

DCM prefer the personal touch and like to come and see you in person to go through your requirements. Visit their website and scroll down to the very simple enquiry form on the right hand side. Fill in form and they will call you back to arrange a time to see you.

Their counsellors will advise you on all the options available to you, including bankruptcy, IVAs and debt management plans.

Abacus Finance (UK Only)

Abacus Finance can provide you with impartial advice from staff with years of experience in finding you the most appropriate solution to unaffordable debt.

Abacus Finance prides itself on its wide ranging types of debt solutions because they know that there is no one size fits all debt solution.

ClearDebt (UK Only)

Cleardebt - IVA, Debt Management: If you are looking for an IVA, a Debt Management Plan and a debt free future then get in touch with ClearDebt's qualified and impartial advisors, online or over the phone in confidence.

By choosing ClearDebt you can reduce your debts by up to 70% and freeze interest with an Individual Voluntary Arrangement, or they can offer to deal with your creditors for you, arranging it all in one monthly flexible payment.

Best Debt Management Companies

Recommended Debt Payment Plans

About Debt Management Plans:How They Work and The Importance Of Reputable Companies

Go Straight To The List Of The Best US Debt Management Companies Best UK Debt Management Companies