The FSA Financial Risk Outlook 2005 found that over a quarter of families in the UK have at least one credit card with an outstanding balance that is not cleared each month and owe nearly £2,500 on average, which was 14 percent higher than in 2004.  Additionally, Student Loan Company outstanding debt rose to 27 percent higher than in 2003.  These alarming facts indicate that many people need assistance with managing their personal debts.

            TheDebtPeople provides free, confidential advice to people in the UK, including Scotland and Northern Ireland.  They are a privately owned company that is made up of professionals such as accountants, lawyers and other experts who operate according to the highest ethical standards.  Their insolvency practitioners are licensed and regulated by the Insolvency Practitioners' Association and are also members of The Association of Business Recovery Professionals.  The advice provided is unbiased and not based upon how much money TheDebtPeople can make from your situation, but rather what course of action would be best based on each individual's circumstances.   A person in debt can contact them by telephone or email, 24 hours a day.

            Many choices are available to indebted people, such as debt management, a consolidation loan or an Individual Voluntary Arrangement (IVA).  The object is to reduce debt, sometimes up to 75 percent, and develop a program that is easy for the person in debt to follow and repay.  Bankruptcy is another option that is deemed as a last resort because of the potential loss of a home, job and assets – however, if this is the best advice, TheDebtPeople will honestly state so.  Debt management can be done through a DIY Debt Plan, a free pack devised by these debt experts to reduce monthly payments and help people with less than £15,000 in unsecured debts to devise a plan for repayment.  TheDebtPeople do not provide consolidation loans but can recommend an ethical, trusted lender to help a person find the right loan for their particular circumstances.

            An IVA is a legally binding agreement between a person and their creditors, governing by the  Insolvency Act of 1986.  A fixed amount of money, usually less than what is owed, is determined as the sum to repay all creditors and is broken down into equal monthly payment over a period of five years.  At the end of that time, all debts are settled in full and final.  It allows a person to keep certain assets, such as their car and home.  However, if the person owns a home, some of the equity may need to be raised to repay creditors.  TheDebtPeople administer the IVA and their fee is incorporated into the monthly payment made by their client.
If a potential client does not qualify for an IVA, they may be referred to The Debt Point, a sister company of TheDebtPeople, who can provide advice about Debt Management Plans (DMP).  These plans can stop the actions of creditors, as well the the interest accruing on outstanding debt balances.

            TheDebtPeople are also actively involved in the community and charity.  They have sponsored Richard Williams in the GB Porsche Carrera Cup; Tony “Silverback” O'Shea; UK's biggest one day dart tournament, the Stockport Open; as well as a recent team of young kart riders in an endurance race on behalf of the National Bereavement Partnership.

            TheDebtPeople is a reliable, licensed organization that can assist a person in debt with finding the appropriate direction to take to reduce outstanding balances and repay creditors in full.