Debt Management »
We'll come up with a debt management solution based on your individual circumstances.

Debt Consolidation »
Our experts can guide you through the range of debt consolidation options available.

Debt Help »
Kensington Financial Management Consultants are experts in providing debt help.

IVAs »
If you have a significant debt problem, you may be eligible to begin this legal process.

Trust Deeds »
A Trust Deed can lead to a significant proportion of your debt being written off.

Bankruptcy »
A Debt Management Plan, IVA or Debt Consolidation should be considered first.

Being A Man About Debt

In the battle of the sexes, men and women's differing approaches to money are the source of much conflict.  Traditionally, men have been the providers, and are still considered to be the more money-savvy gender, with a practical approach to sensible spending. Or so we are led to believe.  

In reality, men are racking up 20% more debts than women, and can afford to pay less to their creditors despite earning more.     Most worryingly, they are reluctant to ask for help.  

Only a third of Kensington Financial Management's clients are men, a fact that concerns its Managing Director, Stuart Parkin.

Parkin said: "Money is an emotive issue, and we know that a lot of men see asking for help as an admission of failure. There is still a stigma associated with Financial Management and this often means that the people most in need of professional help are the ones least likely to seek it.  Consequently, their debts get bigger and their fear of being ‘found out' gets worse.

"There are a number of reasons why men may not seek financial advice.  Most are embarrassed by their situation, many doubt there is any way out of their money woes, some are sceptical of Financial Management Consultants and stereotype them as ‘loan sharks', which couldn't be further from the truth.

"My advice, as both a man and a financial management consultant, would be to take stock of your finances before they take stock of you - you have nothing to lose by picking up the phone and asking for help.  Advice is free, confidential and without obligation."


PRACTICAL APPROACHES TO GETTING OUT OF DEBT

Debt management is a simple, informal approach to resolving debts that are difficult. A debt management plan helps those who:
•    Are struggling to pay debts.
•    Have been refused financial help.
•    Have creditors chasing them by post or phone.
•    Are being threatened with legal action by creditors.

Debt consolidation simplifies finances and makes debts more affordable.  If money is owed to a range of creditors, debt consolidation works by gathering all those debts together, and reducing them to just one monthly repayment.

Individual Voluntary Arrangement (IVA) is a legal process that can be used to deal with significant debt problems (normally over £15,000).  Creditors accept a reduced offer of repayment to settle their debt. Payments are usually made over five years, after which the remainder of the debt is written off. During the repayment period, all interest and charges are frozen and no more correspondence is received from creditors.