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Help with debt

Kensington Finance are the UK's leading debt management company. We have helped over 25,000 UK families become debt free and we can help you too.

There are a number of ways to become debt free depending on your personal circumstances, income, the amount and number of debts you have and other factors. We will advise you on the best option for you when we have reviewed your circumstances.

Generally speaking if you live in England and Wales there are 4 options:

  • A Debt consolidation loan: If you have a small (less than £5,000) debt with high interest rate such as a credit card debt. You simply transfer all your debt to one loan with a lower interest rate and maybe a longer period so that you can afford the monthly payments. We
  • Debt Management Plan If you have several debts to different companies and owe over £5,000 but less than £15,000 then a debt management plan is possibly your best option. We will contact your creditors and will usually be able to reduce the interest and charges on your debt and even reduce the amount. At the same time we will work with you to find out what you can afford to pay based on your income and expenditure and work out a single monthly payment amount which we'll distribute amongst your creditors for you.
  • Individual Voluntary ArrangementsThese are very similar to a Debt management plan, but suit people who owe over £15,000. They are different from debt management plans in that they are a legally binding document. Often creditors will accept payment from an IVA where they wouldn't from a debt management plan.
  • Bankruptcy This is the most drastic option, if you're in no position to repay your debts in any meaningful way or your creditors won't accept an IVA then bankruptcy may be the only option. However, it's rarely the only option, and our friendly and sensitive advisors will give you the very best advice.

For more personalised advice, simply fill in the contact form on this page and we'll call you at a convenient time for you to talk over the options available to you and help you decide what's best for you.

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  • 06 Jan 10
    Debt management companies face improved regulation

    The UK government is launching a consultation into the procedures of debt management companies. Kensington Financial Management Consultants welcome further industry regulation and are members of the Debt Resolution Forum – an organisation designed to increase standards within the industry.
  • 17 Dec 09
    Money problems top 2009 concerns

    A recent survey conducted by Samaritans indicates that 48% of the UK population has worried about their money problems and debt in 2009.