If you can afford to make smaller regular payments towards your debts and want an easy way of paying, you could consider a debt management plan.
A debt management charity or company will go through your financial statement. If you have disposable income and can get out of debt in a realistic time, they will calculate pro-rata arrangements for you.
You then pay the total amount of your pro rata arrangements to the debt management charity or company. They will send on each payment to your creditors.
Be aware that some debt management charities or companies charge a fee to arrange a debt management plan and an additional monthly management fee for as long as the debt management plan lasts. This will take longer for you to repay your debts.
Advantages
This is a fair and transparent method of distributing payments.
The debt management company will negotiate with creditors on your behalf. Their offers are more likely to be accepted and interest and charges may be frozen.
The debt management company involved would be responsible for administering all the payments to your creditors. You just need to make one monthly payment to the debt management company.
You can increase your payments if your circumstances improve.
Disadvantages
You may not be able to make reduced offers if your circumstances get worse and you can't afford to maintain higher repayments.
A debt management plan will not work if creditors won’t accept or freeze interest.
It may affect your credit rating.