This is appropriate where you can pay back your creditors but need a bit of time to reorganise your expenses. It has no element of debt forgiveness or protection from diligence and is not governed by statute.
As soon as you find out that you cannot pay bills or installments as they fall due, you should contact your creditors to tell them why. They might give you time to pay or agree to reduce your repayments for a time until things get better.
Organisations that can assist in the process of informing creditors and agreeing rescheduling of your debts for free are:-
These organisations do not handle the funds for you and you must make the payments that are agreed direct to your creditors.
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