Debt management

Many people look for a loan when in financial difficulty however this is often not the best solution. Debt Management can offer many of the benefits of a loan but possibly without some of the less desirable elements, such as compounded interest (interest charged on interest).

A Debt Management Plan with Gemstone will provide you with the benefit of one single monthly payment for all of your unsecured debts. Your monthly payment will be set at a level that you can afford and payments will then be made to your creditors as part of an agreed repayment programme.


Because you will be making reduced payments to your creditors, your plan may result in a lengthening of the repayment period for your debts and in some comes cases increase the total sum to be repaid. Any delay in payments to creditors, such as if you miss a payment or when paying our Plan setup fee can result in your accounts going further into arrears.

For customers who pay into their Debt Management Plan regularly, we typically receive concessions from creditors such as suspension or reduction of interest and relief from further charges, though such concessions are negotiated with your creditors and cannot be guaranteed.