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For many of you that are in debt, you may find yourself managing your finances on a tight-rope, with one small change in circumstances having a dramatic knock-on effect.

When the change is big, the sustainability of your carefully constructed budget and well managed plan becomes jeopardised, causing a lot of stress and anxiety. A change in circumstances can happen to anyone at any time – it could be due to redundancy, addition to the family or loss of overtime. Whatever the reason may be, there is no need to panic.

“I am in a Debt Management Plan, what do I do?”


If you are currently repaying your debts through a DMP, it is important to keep us informed of any changes in circumstances as and when they occur. By doing this, your case officer can do the following to assist you:

  • Create a new income and expenditure, look at areas in which you can either make cut backs or they can help by prompting you to look for any benefits that you could receive.
  • Agree a new payment amount, where necessary, and inform all of our creditors of the new amount.

“I am in an Individual Voluntary Arrangement, what do I do?”


If you are repaying your debts through an IVA it is extremely important to notify your case officer before you miss any payments, as an IVA is a legally binding arrangement between your creditors and you. Failing to adhere to the terms and conditions of your IVA proposals could result in your IVA failing.

Your IVA case officer will be able to reassess your income and expenditure with you, as well as being able to propose a temporary payment break or a new payment amount via a Variation Meeting with your creditors, which they would need to approve. However, please note, payment breaks and amending payments differs for each client and you will need to check the terms of your arrangement before this can be proposed. For more information on this subject, then please speak to your case officer.