Encompass Southwest work closely with Pay Plan who offer free debt management plans, these include:

• IVA (Individual Voluntary Arrangement)
• Write off unaffordable debts with an IVA
• With an IVA (Individual Voluntary Arrangement), you can be debt-free in just 5 years. Up to 70% of your debt can be written off (in the case of a one-off lump sum settlement), and you pay the rest back in affordable monthly payments – with no more interest added, no more threats of legal action, and no more hassle from your creditors.

How they will help you:

• Review payments to find what’s affordable
• Arrange the IVA with you
• Quick and easy process

Can I apply for an IVA?

• Have you got more than £7,000 of unsecured debt?
• Do you have at least 2 creditors?
• Are you employed (or self-employed), with a surplus of income of at least £50 before you pay your debts each month?

If you can answer ‘YES’ to all these questions, you could be eligible for an IVA.

Debt Management Plans (DMPs)

A Debt Management Plan, or DMP, is an informal arrangement whereby you agree to pay back your debts but at a reduced amount. You can either set up a plan with your creditors directly or use a debt management company to help deal with your creditors on your behalf. In a PayPlan DMP you make one monthly payment based on what you can afford and this amount will be divided amongst your creditors, ensuring all of your debts are being paid.

Unlike most debt management companies, PayPlan does not charge fees for setting up and handling debt management plans. So you’ll pay no set-up fee or no monthly fees – allowing all of your regular payments to go towards repaying your debt.