Informal and other Debt Options

Milsted Langdon do not provide the following services but they are alternative options for you to consider and we have provided links where you can find out more.

Debt Management Plan – this is an informal agreement managed by a debt management company.  A single monthly payment is made to the debt management company who then make distributions to your creditors.  To qualify for this process you should have at least £100 of surplus income per month and at least three creditors.

Debt Relief Orders – this is only a suitable option if you owe less than £20,000, have assets with a value of less than £1,000 and less than £50 surplus income per month.  This option is administered by the Official Receiver.

County Court Administration Order – to qualify for this process you must have a County or High Court judgement against you, owe less than £5,000 and have more than one creditor.  An application is made to the County Court for a single monthly payment to be made to Court for distribution to the creditors.