check out moneysavingexpert.comThere is sound advice there for sorting debt.

gurnE wroteHow are they any different from the rest? They get paid out of the money you pay into the agreement.QuoteHow our Debt Management Plans are fundedPayplan is funded in a unique and innovative way. Rather than charging our clients, we receive donations from the credit industry.Back in 1999, when the name 'Payplan' first came about, our team started talking to creditors about the best way to help people reduce their monthly payments.It was soon obvious that charging those with financial difficulties for a debt repayment service was fruitless, as it would take them even longer to become debt free and just compounded the problem.Keen to assist their customers, who were struggling to meet repayments, Marks and Spencers Financial Services were one of the first to give a positive response to our proposals for them to help cover some of the costs of debt management plans provided by Payplan. Others swiftly followed enabling Payplan to extend its debt management services to a wider client base.Our reputation has grown over the years, winning huge support from other creditors and organisations that are keen to provide all members of the public with a totally free debt management service.Hth

Its a major problem in this country.Mostly caused by salaries being so shyte - in order to maintain any quality of life after all the deductions people have to borrow. All thats happening is the overt and covert taxation shortfall just gets translated into massive levels of personal debt.Big big bubble thats going to burst in the next decade or so.I read somewhere personal debt is averaging 10k per person. Insane.EDIT: "Total UK personal debt has exceeded £1 ¼ trillion. The average Briton owed £4000 in unsecured debt at the end of 2004. Estimated now to be nearer £6000 per person in 2007. Double the European average."Obviously its out of control then ..

Diversion wrotecheck out moneysavingexpert.comThere is sound advice there for sorting debt.Agreed, and contact Payplan not one of these money making companies who advertise on tv.

gubbs wroteIts a major problem in this country.Mostly caused by salaries being so shyte - in order to maintain any quality of life after all the deductions people have to borrow. All thats happening is the overt and covert taxation shortfall just gets translated into massive levels of personal debt.Big big bubble thats going to burst in the next decade or so.I read somewhere personal debt is averaging 10k per person. Insane.EDIT: "Total UK personal debt has exceeded £1 ¼ trillion. The average Briton owed £4000 in unsecured debt at the end of 2004. Estimated now to be nearer £6000 per person in 2007. Double the European average."Obviously its out of control then .. how can you say UK salaries are shite..have you seen what they pay in the rest of europe its more to do with the fact that peopple are impatient and wont save for stuff, and the UKs current attitude that someone else will sort it and ick up the tab

I was brought up in a buy now pay later household. It was the norm so ever since I've been able to earn money (i.e. paper round) I've had some form of 'debt'.Now at 29 I have over my age in k worth of debt.It's self inflicted, unfortunately it's just taken this long for the penny to drop (pun intended).Luckily it is manageable (just). The tough bit comes if there is a big bill to paylike a service or something.I did think about a DMP but figured I wouldn't be eligible?!?

gubbs wroteIts a major problem in this country.Mostly caused by salaries being so shyte - in order to maintain any quality of life after all the deductions people have to borrow. It may be a 'problem' but most people don't have to borrow money to live day-to-day. They borrow to live for today and hope thay can pay for it tomorrow. They buy cars and holidays, toys and clothes. They are not short of food for their children.gubbs wroteAll thats happening is the overt and covert taxation shortfall just gets translated into massive levels of personal debt.Big big bubble thats going to burst in the next decade or so.What do you think will happen? gubbs wroteI read somewhere personal debt is averaging 10k per person. Insane.EDIT: "Total UK personal debt has exceeded £1 ¼ trillion. The average Briton owed £4000 in unsecured debt at the end of 2004. Estimated now to be nearer £6000 per person in 2007. Doule the European average."Obviously its out of control then .. An average £6k in unsecured debt? How is that out of control? Tighten your belt and stop wasting money and that could be sorted by your average British wage earner in less than 18 months if they tried. gurnE's mates £30k is pretty sad though.

[QUOTE=gubbs;4593310]Its a major problem in this country.Mostly caused by salaries being so shyte - in order to maintain any quality of life after all the deductions people have to borrow. QUOTE]Debt is caused by living beyond your means, end of story IMO. There are people out there who spend on credit without a single thought as to how they're going to repay the debt.When I've earnt less in the past, I've had to spend less to avoid getting in debt. Now that I earn more, I spend a little more & save some for the future when things may not be so good.Salaries in some EU countries are higher, some lower. Even then, a higher salary does not mean more diposable income as taxes can be higher, some German wage slips are A4 sized to provide room for the deductions to be listed (Church Tax, Reunification Tax to name two of them). Check out taxes in Denmark (200% on some vehicles).

If the OP's mate wants out of this for minimal hassle (and has no assets) then bankruptcy is by far the easiest option these days. If it's all consumer credit debt with nothing much to show for it then he'll be unlucky if he has to wait 12 months for his discharge - some folk in this situation are out in as little as 3 months. Only thing to watch out for is that if losing the credit repayments frees up a load of surplus income, he may be required to make monthly contributions for up to 3 years.Some of these IVA factories who claim to be able to part the Red Sea in terms of what they can do for your debt problems are not exactly what you'd call scrupulous - take big amounts of money in fees and the creditors get naff all. My money's on this being the target of the next big mis-selling witch-hunt.

If he does go IVA he will basically be skint for 5 years, THEY tell you how much you should live off and spend , also if you can t keep up the payments for any reason in majority of cases its straight to bankruptcy... some companies wil give paymnt breaks. His credit will take 6 years after the IVA finishes to get back up to scratch, he wont be able to get anything from a mobile contract to a new car or mortgage (he might get that but at a very high interest)For that small amount of owings i would say go debt management tell him to ring cccs, as he has no secured debt he will probably be able to pay it off in 10years or less.Oh and the words Electoral register They will find him, companies now are more able to share information plus he ran up the debt he should pay it back. He needs to get the creditors to stop interest and accept lower monthly payments He could if he wants to do it on his own stop paying - within about 6 months they will pass the debt on to a collection agency which is good as it wont grow, most agenices will then accept a smaller payment. HTHPS just as a side - its not always due to people spending too much and being frivolous ( thanks to t hose who are going to correct that spelling in advance) sometimes people loose jobs or get divorced etc its not always thier fault