If you search the internet you will find many Debt Management companies offering this service.

Choose wisely as most Debt Management companies will charge an administration fee to manage the debts for you. This in turn makes any payments to your creditors smaller and extending the term of repayments. On a positive side Debt Management will free you from calculating and scheduling many different payments.

The Citizens Advice Bureau offers a free Debt Counselling service. Although there is normally a long waiting list it may well be in your best interest to contact all of your creditors and explain the situation to them. Many may be willing to give you a payment holiday to enable you to sort out your finances.

When working out all of your income and expenditure be truthful or Debt Management will not be of any help. You need to clearly see what you are able to pay towards your debts.

Remember that your creditors do not have to agree to your proposed payments and are under no obligation to stop chasing you for the debt. Even worse, they can add additional interest and can carry on pressing for a County Court Judgment or a apply for Bankruptcy if the debt is over £750.

Request that they do not add any additional interest to the outstanding balance. If they do pursue you via the courts take with you as evidence all correspondence sent and records of payments.