Why pay fees for a debt management plan? See how much we could save you
A fee charging debt management company is a firm that will charge you for debt advice and debt service. They usually take the first two months’ payments into your plan as upfront costs followed by 15% of your monthly payment plus VAT. The New Protocol launched in February 2013 will mean that the up front fees will be taken over six months. See Debt Management Protocol
There are some good fee charging firms operating in the debt industry and if you are happy with your firm then fine. However there are some shockers out there and we have the following guide to help you spot them, see our 7 point guide to spotting a dodgy debt advice website!
If you are thinking of starting a debt management plan or wish to transfer to a 'non' fee debt management plan and not pay fees then see how much we can save you by using the slide bars on our unique fee saving calculator above.
No sponsors and no hidden agenda, the fee-free debt advice website.
Welcome to the official website of the Debtwizard®, Mike Thomas. Debtwizard.com has clients in more than 80% of the nation's Police Forces as well as in the Prison, Fire and Rescue, and Ambulance Services, M.o.D, and in other public service departments. Mike has regularly featured on TalkSPORT, LBC, SunTalk and BBC radio, as well as BBC television news, ITV, Channel 5 and SKY on debt related issues. Many not only regard him as the authority on police debt but also UK's leading expert.
Headed by Mike, Debtwizard® is one of the UK's leading debt counselling organisations, offering practical solutions, impartial advice and fee free solutions on reducing debt.
Through our trusted 3rd party we offer free support and advice on unmanageable bills, debt problems, mortgage arrears or home repossession, bankruptcy and Individual Voluntary Arrangements, IVAs, Trust Deeds, Protected Trust Deeds, Sequestration and debt management plans in England, Wales, Northern Ireland or Scotland.
You can telephone for free debt advice and in the strictest confidence:
0800 197 8433 or complete the on-line rapid response form.
Mike Thomas has become well known as ‘The DebtWizard’, over the past 19 years helping many individuals to overcome their debt problems, he is the founder and head of debtwizard.com
Mike's career began in the Metropolitan Police, but after 17 years of exemplary conduct he was forced to leave through injury. It was then he became a debt counsellor, interviewing individuals and couples, assessing their debt problems and developing his expertise in this difficult and often emotive field.
He now specialises in unsecured personal debt which includes credit cards, loans, overdrafts, store cards, as well as mortgage shortfall debt following house repossession and is regarded as an expert in the debt management industry. He and his team are always striving to find the right solution to resolve an individual's financial difficulties.
Highly knowledgeable and able to offer advice on interest rate decisions, house repossession figures, insolvency figures as well as debt and consumer related issues such as bankruptcy, Individual Voluntary Arrangements (IVA’s) debt consolidation loans, debt management, Log Book Loans and Payday Loans. He has also trained to further develop his personal counselling skills to help people with the psychological impact of coping with debt.
Mike has extensive press media experience. He writes for a number of publications including the Metropolitan Life magazine (for police personnel) and has regularly featured on TalkSPORT, LBC and BBC radio, as well as Channel 5 and SKY on debt related issues.
He has broadcast live on television on BBC1 as well as BBC News Channel, BBC London and appeared on ITV's Repossession Repossession Repossession' documentary about debt, helping two of the participants and acting as an adviser to the programme.
Mike also presented and contributed in My Worst Deal, a five part consumer debt issues series for the BBC 1. The broadcast date was 2 April 2012.
In print and on air Mike can deal with debt related issues, responding to readers' letters or callers' telephone enquiries to advise the best solution on their individual problem.
The Debt Management Company that has been chosen to work in association with DebtWizard is Payplan.
Payplan offers free to client debt solutions such as mortgage arrears or home repossession, bankruptcy, Individual Voluntary Arrangements (IVAs), Trust Deeds, Protected Trust Deeds, Sequestration and free Debt Management Plans in England, Wales, Northern Ireland or Scotland irrespective of your circumstances.
The advice you receive is free, without obligation and there are no upfront fees.
Mike is in contact with Payplan on a daily basis.
If you are offered a Debt Management Plan (DMP), an Individual Voluntary Arrangement (IVA) or a Protected Trust Deed PTD, then please remember that you will be under no obligation whatsoever to proceed with them.
You can telephone for free advice and in the strictest confidence: 0800 197 8433 or complete the on-line rapid response form.
Confirmation of fees
We believe in being transparent and upfront about what fees we earn from referrals, more details of our fee share can be found here
Mike Thomas writes all the content, if you have any comments, questions or feedback, you may contact him directly through his contact page.
Debtwizard.com 0800 197 8433
Mobile calls may be cheaper on 0207 785 1110
Need to find a debt charity? On this link we have listed organisations that are also 100% free to the consumer
Are you owed thousands of pounds in mis-sold Payment Protection Insurance (PPI)?
If so we can help you claim in two ways, either use;
our free DIY template letters, or
a firm to help you with a LOW FEE of 12% + vat
Our recommended firm will handle all the claim on a "No Win, No Fee" basis for a fee of just 12% + vat, which is only payable if you have a successful claim.
It's that simple. Take me to: