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Debt Management is ideal for:

Want to get a loan with bad credit try debt management. Those with an impaired credit rating or who are behind on credit card repayments and Want to avoid bankruptcy with Unsecured debts of more than £5000 then debt managment is for you.

Debt managment is a way for you to take control. Some debts are more important than others. The law gives different creditors different ways of getting their money back. If you don’t act quickly, some creditors could:

  • Take away your home (called ‘repossession’ or ‘eviction’) 
  • Cut off your gas or electricity (disconnection) - the law has changed and your water company cannot disconnect your water supply.
  • Send the bailiffs to take furniture from your home (called ‘distraint’); or 

  • Ask the magistrates’ court to send you to prison. 

The list below tells you what might happen if you delay sorting out different debts. These are all priority debts. It is important to use your money for creditors to make agreements to settle these debts first. Creditors can take action on some priority debts without going to court first. For example, gas and electricity companies can disconnect you. HM Revenue & Customs can send bailiffs without a court order for VAT and income-tax debts. Your other priority creditors can take action against you only after court action.

Advice Don’t panic.  You will always be given warning and, as long as you act quickly, you should be able to stop these things happening. Mortgage and rent arrears are particularly important because you could lose your home if you do not pay them.

Mortgage arrears - Repossession of your home

Second mortgage or secured loan - Repossession of your home

Council Tax - Distraint or deduction from wages, deductions from some benefits or imprisonment

Rent arrears - Eviction from your home

Gas or electricity page -  Supply cut-off

Magistrates’ court fines - Distraint or deduction from wages, deductions from some benefits or imprisonment

Maintenance - Distraint or deduction from wages, deductions from some benefits or imprisonment

Social Fund loans and benefit overpayments - Deductions from most types of benefits

Tax credit overpayments - Deductions from your ongoing tax credits or through your tax payments

Income tax, National Insurance and VAT arrears - Distraint or bankruptcy

Hire purchase or conditional sale - Repossession of the goods or a court order to hand them back

TV licence - Fine in magistrates’ court, distraintor imprisonment
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