Stop My Debts

Stop My Debts: debt solutions guidance and referrals in the UK

Stop My Debts operates as an introducer for consumers dealing with unsecured debts. The company states that it provides information about available debt solutions and, where appropriate, may refer consumers to FCA-authorised debt solution providers or licensed Insolvency Practitioners for regulated advice and assistance. It does not charge consumers for information provided through its introducer service.

The service is aimed at people who are struggling with debts such as bailiff debts, council tax, credit cards, CCJs, loans, overdrafts, HMRC debts and utility bills. The company says it engages daily with major lenders and banks to negotiate debt reductions.

Debt types covered

The website lists the following unsecured debts as those it handles:

• Bailiff debts
• Council tax
• Credit cards
• CCJs (County Court Judgments)
• Loans
• Overdrafts
• HMRC debts
• Utility bills

Solutions presented

Stop My Debts outlines four types of debt solutions on its site: IVA (Individual Voluntary Arrangement), DMP (Debt Management Plan), Bankruptcy and DRO (Debt Relief Order). The company notes that debt solutions are subject to eligibility and suitability criteria and may affect a person's credit rating. Certain solutions may involve fees, which the regulated provider will explain fully before proceeding.

How the process works

The company describes a three-step journey. First, individuals get in touch to discuss their situation; the team says it listens without judgment. Second, advisors assess the available options and help find a practical solution. Third, with a plan in place, the company provides guidance and support as the person works toward becoming debt-free.

A solution finder tool is available on the website to help users figure out the best way to regain financial ease. Users can also check their eligibility through the site.

Client feedback

The website includes short testimonials from clients. Ana describes her experience as excellent; John refers to outstanding service; Adam was excellent throughout; and Steven says the team put him at ease and handled everything professionally. These are individual comments displayed on the site and are not presented as an overall rating.

Role and limitations

Stop My Debts states that it acts as an introducer only and does not provide regulated debt counselling, debt adjusting or debt administration services unless expressly authorised to do so. The company also mentions that free independent debt advice is available from MoneyHelper, an impartial service set up by the Government.