Existing Customers: 0161 228 6194
New Customers: 0161 228 6055
24-hour payment line: 0161 543 1636
DFH were not judgemental and dealt with me professionally

Debt Help Plan Glossary

  1. Arrears
  2. Assets
  3. Bankruptcy
  4. County Court Judgment (CCJ)
  5. Credit Report
  6. Credit Score
  7. Creditor
  8. Debt Advisor
  9. Debt Consolidation Loan
  10. Debt Management Plan
  11. Debt Relief Order
  12. Individual Voluntary Arrangement
  13. Insolvency Practitioner
  14. Non-priority Debts
  15. Priority Debts


1. “Arrears”

Term often used in debt to describe being late with rent, bills, child support, or other legal financial obligation.

2. “Assets”

Anything owned by an Individual or Company, such as Property, Car etc

3. “Bankruptcy”

A legally declared inability of an individual or organisation to pay back debts owed to creditors.

4. “County Court Judgment (CCJ)”

An ruling by a County Court against an individual who has not satisfied their debt payments with their creditors.

5. “Credit Report”

A record of an individual or company’s past borrowing and repaying, including information about late payments and bankruptcy.

6. “Credit Score”

This is determined on the basis of your credit report. Lenders, such as banks and credit card companies, use credit scores to evaluate the potential risk posed by lending money to individuals.

7. “Creditor”

A company to whom money is owed (Banks / Credit Card companies etc)

8. “Debt Advisor”

An indvidual that advises on all aspects of debt and solutions available.

9. “Debt Consolidation Loan”

A Debt Consolidation Loan works in the same way as a standard loan, except its main purpose is to pay off your existing debts such as loans, credit cards, store cards, etc

10. “Debt Management Plan”

A Debt Management Plan is an informal agreement with your creditors to reduce your debts with an affordable monthly repayment.

11. “Debt Relief Order”

A Debt Relief Order is a form of insolvency (similar to Bankruptcy), introduced by the Government in April 2009. It is suitable for those with debts of less than £30,000 on lower incomes.

12. “Individual Voluntary Arrangement”

An IVA is a legally-binding agreement available to anyone who is struggling to pay off their debts.

13. “Insolvency Practitioner”

Often referred to as IP’s these individuals are licensed to advise on, and undertake appointments in, all formal IVA procedures.

14. “Non-priority Debts”

These include unsecured personal loans, credit cards, overdrafts, catalogue debts etc.

15. “Priority Debts”

These include mortgage, rent, council tax, secured loans, utility bills


DFH were understanding, caring, sympathetic and incredibly helpful. If you are struggling with debt - these people make debt their business to help you.

Latest News

What is a Debt Management Plan?

Credit Reports, Are They Worth Checking Out?

Maximize Your Income In 6 Steps

Can Money Affect My Health?