Open Until 9pm

0161 519 5510

What is Debt Management?

A Debt Management Plan is an agreement between you and your creditors to pay all of your debts in full.

Debt management plans are useful if:

  • you can only afford to pay creditors a
    little amount monthly
  • you have debt problems but unable to the full repayment for a period of time.

You can arrange a plan with your creditors
yourself or through a licensed debt
management company for
a fee. If you arrange this with a company you
make one repayment to the company and
they divide the
money to your creditors.

  • One affordable payment to the DMP company

    Payments can increase or decrease depending on your situation.

    Creditors can sometimes freeze interest however they do not have to do so.

    Certain organisations will do this free of charge you can contact the MAS for more information on this.

  • For the DMP to be effective all creditors must agree to the arrangement offered.

    Most providers will charge for this service (Management fees are generally 50% of the first 6 months of payments and a monthly fee on average of £38 per month.)

    Interest and charges are not guaranteed to be frozen.

    Your credit rating will be affected.

  • The Money Advice Service is an important service set up by the Government. They provide free debt counseling, debt adjustment and credit information.

    Click here for more information

    What we can help with

    Loans & Overdrafts

    Catalogue and Store Cards

    Benefit Overpayments

    HMRC Debt

    Court Judgements

    Rent, Gas and Electricity arrears

    Credit Cards

    Council Tax Arrears

    0161 519 5510

    New Leaf Debt Advice Limited Registered Office Onward Chambers, Centenary House, 1 Centenary Way, Greater Manchester, M50 1RF, United Kingdom. Registered in England and Wales Registration number 12203002.Data Protection Registration Number ZA549249

    Trading address- 50 Barton Rd, The Granary, Worsley, Manchester M28 2EB

    Laura Stewart is authorised to act as an Insolvency Practitioner in the UK by The Insolvency Practitioners Association (IP Number 23590) Learn more:

    Subject to eligibility and acceptance. Fees Payable. Debt write off applies to unsecured debts only and on completion of an IVA. If your IVA fails, it could lead to Bankruptcy, although this is rare and alternatives may be available. Your ability to obtain credit will be affected for the medium to long term. Homeowners may be required to release the equity in their property, if unable to release equity and equity is available creditors may request an additional 12 months payments in compensation.

    New Leaf Debt Advice provides insolvency solutions to individuals, specialising in IVA. Advice and information on alternative options will be provided following an initial fact find where the individual(s) concerned meets the criteria for an IVA and wishes to pursue it further. All advice given on any alternative options is therefore provided in reasonable contemplation of an insolvency appointment.

    The Money Advice Service is a free service set up by the Government to help people make the most of their money. If you would like to learn more visit