Terms and Conditions

Money Wellness is a trading style of Gregory Pennington Limited © 2025. Registered office: Blue Tower, MediaCityUK, Salford Quays, M50 2NT. Registered in England and Wales, registration number 02855061. Authorised and regulated by the Financial Conduct Authority for consumer credit and insurance and mortgage advice and arrangement activities.

a. We will agree a monthly payment that you can afford, based on your income, outgoings and living expenses. The monthly payment is the amount you must pay us each monthly for your debt management plan.

b. We will set up and manage a debt management plan for making payments to your lenders (the firms or people you owe money to who are being repaid through your debt management plan).

c. We will normally send your debt management plan to your lenders within 28 days of you making your first monthly payment.

d. We will try to agree new repayment terms with your lenders for you. We will let you know if your lenders agree or not. If we cannot agree new repayment terms with your lenders, we will explain how this affects your debt management plan and the options you have.

e. We will try to get your lenders to agree to stop charging you interest, and to stop any recovery action (including legal action) they are taking against you in connection with the debts covered by the debt management plan.

f. At least once a year we will send you a statement setting out the progress of your debt management plan.

g. We will review your debt management plan at least once a year to make sure it is still a suitable way for you to repay your debts, and to review the amount of your monthly payment. We might review your debt management plan sooner if you tell us your circumstances have changed or if we believe your circumstances may have changed.

h. After each review we will prepare an updated debt management plan and try to agree new repayment terms with your lenders.

i. We will tell you if our relationships with your lenders change in a way that affects your debt management plan.

j. If this agreement is for a debt management plan in joint names, we will take instructions from either one of you, but we will treat them as instructions from both of you without speaking to the other person.

k. If we need to send you something in writing we will send it by email, unless we have agreed otherwise. 

a. Unless we agree otherwise in writing, your debt management plan will not cover the following.

• Secured debts (such as loans and mortgages your property is security for).
• Debts you owe under hire-purchase, conditional-sale, contract-hire or other types of leasing agreements.
• Rent (including rent arrears).
• Household-bill payments. (including arrears.)
• Council tax payments. (including arrears.)
• Priority debts (see condition 3j) or household expenses.

b. We cannot guarantee that your lenders will accept revised repayment terms under your debt management plan, or that they will stop applying interest and charges or taking recovery action against you.

c. We will not give you legal advice or go to any court hearing on your behalf. 

a. You must tell us about your current and future circumstances including:

• your income;
• your living arrangements and living costs;
• what you spend your money on;
• who you support financially; and
• who you owe money to.

b. Any information you give us must be complete, accurate and truthful.

c. If we ask you to, you must give us proof of the information you have given us. For example, we may ask for copies of payslips, bank statements or marriage certificates.

d. You must co-operate with us and respond as soon as possible to our reasonable instructions or requests for information. You must not ignore our attempts to contact you.

e. You must sign the enclosed consent form to authorise your lenders to talk to us about your debts.

f. You must pay your monthly payment in full and on time in each month. If you do not make the agreed payments, your lenders may cancel any new repayment terms we have agreed with them. They may also charge you extra interest and charges or take further action to recover your debts. If you can’t make your regular payment for any reason, you must tell us as soon as possible. MW GP DMP 05/25

g. You must tell us if your circumstances change and you:

• cannot afford to keep paying your monthly payment; or
• can afford to increase your monthly payment.

h. You must not ignore correspondence from your lenders. You must tell us if your lenders contact you with demands for additional payments or if they are taking further action against you. This is so we can deal with them for you and make sure your debt management plan is running smoothly.

i. You must not make payments direct to your lenders, or make a payment arrangement with your lenders, unless we have agreed that you can. We will only stop you from making the payment or agreeing the payment arrangement if there is a good reason and after we have explained how the payment or arrangement would affect your debt management plan.

j. You must make payments to all your priority debts not included in your debt management plan, like your rent, mortgage, secured loans, council tax bill, gas, electricity bill, water bill, court fines, income tax and child support payments (and any arrears on those debts).

k. You must tell us if you want us to return any of the documents you send us. We scan any documents we receive about your debt management plan and store electronic images of them. We will then destroy the original documents unless you asked us not to before you sent them to us.

l. You must not borrow any further amount while your debt management plan is place, whether on credit or not.

m. You must tell us immediately if your address, contact details or other personal details change. You must keep us up to date with your phone number, address and email address so that we can send you information when we need to.

n. If you choose to view information about your debt management plan online, or to get updates by text message or email, you must:

• make sure the mobile phone, tablet, computer or other device you use is secure;
• use the security features available on the mobile phone, tablet, computer or other device you use and take reasonable steps to try to prevent anyone else from having access to your information; and
• tell us straight away if your mobile phone, tablet, computer or other device is lost or stolen, if your mobile phone number or email address changes, or if you think that someone else might have access to the information we send you.

o. In these terms and conditions, references to ‘TransUnion’ mean TransUnion International UK. TransUnion is a limited company with company number 3961870, and its registered office is at One Park Lane, West Yorkshire, LS3 1EP. TransUnion is authorised and regulated by the Financial Conduct Authority under registration number 737740. You can check their authorisation on the Financial Services Register at www.fca.org.uk. With your permission, we will share your information with TransUnion to check your identity and ask for a copy of your credit report. When we ask for your credit report we will be exercising, on your behalf, your right to ask for your credit report. We will use your credit report to provide our services to you. The information we would use from your credit report includes information about your lenders, your accounts (including balances and MW GP DMP 05/25 account numbers), previous addresses, any past insolvency and any county court judgments (CCJs).

p. If our request for your credit report is refused, we will discuss with you an alternative way for us to get the information we need to provide our services, including other ways you can get your credit report or provide information about lenders. If our request for your credit report is successful, we will use your credit report to provide our services to you. We can only ask for a copy of your credit report if all of the following apply.

• You are at least 18 and live in the UK, the Channel Islands or the Isle of Man.
• You are the person named in the debt management plan.
• You agree that we can ask TransUnion for a copy of your credit report.
• You understand that when we ask for a copy of your credit report, our search will be recorded in your credit report for you to see.
• You understand that TransUnion will provide your credit report for information and guidance only. The information in your credit report is supplied by others, and although TransUnion make reasonable efforts to check the accuracy of the information in your credit report, they cannot guarantee the information is completely accurate, and they are not responsible if it turns out to be inaccurate. (Tell us if you think any information provided by TransUnion is wrong. If we can’t answer your query, we will refer it to TransUnion.)

q. We will not give you a copy of your credit report as part of our service. If you give us permission to use your credit report, we will combine certain information contained in your credit report and only tell you your total debt and the number of lenders. This does not affect your legal rights. TransUnion and its data-licence providers own all copyrights, trademarks and other intellectual property rights in your credit report.

r. We will not allow or authorise any other person to see or use the information in your credit report.

s. You must tell us if you no longer agree to us using your credit report, in which case we will delete any copies that we have. 

We will not charge you a fee for our service, which includes the provision of debt advice and the administration of your debt management plan.

Our agreement will start the later date of:

• When we have received the signed consent form from you confirming that you agree to these terms and conditions and want us to provide a debt management plan for you; or
• to your existing debt management plan from 21th May 2024. 

Our agreement will carry on until:

• all your debts covered by the debt management plan have been paid in full;
• you or we end the agreement;
• you enter into any formal insolvency procedure such as bankruptcy, an individual voluntary arrangement or a protected trust deed; whichever happens first. 

a. You can end the agreement between you and us at any time and for any reason.

b. You can cancel your debt management plan within 14 days (starting on the day we receive your signed consent form). If you do, we will not be able to refund any payments that we have distributed to your lenders. If you do not want us to distribute your first payment within the first 14 days, you must let us know. This is a right you have under the Financial Services (Distance Marketing) Regulations 2004.

c. If you want to end this agreement, phone us on 0161 518 8282, send an email to [email protected], or write to us at Money Wellness, Blue Tower, MediaCityUK, Salford Quays, M50 2NT. 

a. We will end this agreement if we no longer believe that your debt management plan with us is a suitable way for you to pay your debts.

b. We may end this agreement if you:

• miss two monthly payments in a row;
• do not co-operate with us when we reasonably ask you to provide information or do something that is necessary for us to provide our services to you;
• have seriously or repeatedly failed to do the things you must do, as set out in section 3, ‘What you must do’; or
• ask us (directly or indirectly through your actions or information you provide) to mislead your lenders about your true financial position.

c. If we end this agreement, we will write to or email you first to give you at least 30 days’ notice before we stop providing our service. 

a. When this agreement ends, we will: MW GP DMP 05/25

• stop providing our service to you and tell your lenders that your debt management plan with us has ended; and
• arrange for any money being held by GPL to be returned to you within five working days.

b. If your debt management plan ends before your lenders are paid in full, you will still owe your lenders the remainder of the debts that were covered by your debt management plan. 

a. We hold any payments for your debt management plan in a client account. This is a bank account that is only used to hold money that belongs to our customers and which we cannot use for our own purposes. The account does not pay interest on the amounts in it.

b. The only payments we will make out of the money we hold for you in our client account are:

• any refund you are owed under these terms and conditions;
• any other payments you have asked or authorised us to make; and
• each lender’s share of your payment, in line with your debt management plan.

c. If you play less than your agreed monthly payment, we will reduce the payments we make to your lenders. d. If you pay more than your monthly payment, we will increase the payments we make to your lenders.

e. We will normally distribute your payment to your lenders within five working days of when your payment ‘clears’ in our client account (see the table below). However, there are times when we will need to hold your payment for longer. The reasons for this are explained in our ‘What happens to my money’ leaflet. We will give you a copy of this leaflet before our agreement starts.

f. If we do not distribute your payment within five working days for any reason not given in our ‘What happens to my money’ leaflet, except if it is because of something we cannot reasonably control, we will cover any extra interest or charges your lenders add to your debts so you will be in the same position you would have been in if there had not been a delay.

g. The table below tells you how long it takes for your payment to clear in our client account, and so be available to be distributed to your lenders.

h. When making payments to us by Debit Card there is a period of time between you making the payment and the payment reaching our client bank account (whilst it is being processed by a third party payment services provider) where we are unable to protect your money and it may be at risk.

i. Compensation might be available from the Financial Services Compensation Scheme if it has declared there is a shortfall in the client money held by GPL for you and they are unable to pay for claims in compensation. 

a. We will only collect, use and share information from and about you if we:

• have agreed this with you first;
• have to do so under a law, regulation or contract;
• have a public duty to do so;
• need to do so to provide our service; or
• believe that processing your information is reasonable and does not affect your rights.

b. The information we will collect from or about you is likely to include the following.

• Your personal details (for example, your name and date of birth)
• Your address
• Your contact details (for example, your phone number and email address)
• Financial information
• Employment information
• Information on how you use our website, products and services
• ‘Special categories of data’ (as defined by the Data Protection Act 2018 and listed in our privacy policy)

We can only use information relating to criminal convictions or offences if this is authorised by law.

c. We may use your personal information to do the following: MW GP DMP 05/25

• Consider and process any applications you make for products or services we offer
• provide and manage our products and services;
• share necessary details with companies who provide us with services (for example, printing providers, technology service providers, customer feedback platforms, banks and finance companies);
• share necessary details with the Money and Pension Service for auditing and quality purposes;
• prevent and detect crime, including fraud, money laundering and funding terrorism;
• assess financial and insurance risks;
• meet our legal and regulatory obligations; and
• help us identify products and services which may be of interest to you and tell you about those products and services by email, phone or text message (unless you have asked us not to).

d. Our privacy policy (available on our website at www.moneywellness.com or by phoning 0161 518 8282) explains in detail how we will use your personal information and tells you your rights relating to how your personal information can be used. Our “How we use your personal information” leaflet summarises the information in our privacy policy. We will give you a copy of this leaflet before the agreement between you and us starts.

e. You can ask for a copy of the personal information that we hold about you by writing to us or phoning us using the contact details below.

Data Protection Officer

Money Wellness

Blue Tower

MediaCityUK

Salford Quays

M50 2NT

Phone: 0161 518 8282 

a. If you are unhappy with the service we provide you can complain by:

• phoning us on 0161 518 8282;
• sending an email to [email protected]; or
• writing to our Customer Relations Department at Money Wellness, Blue Tower, MediaCityUK, Salford Quays, M50 2NT.

b. We will investigate your complaint within eight weeks and send you a final response telling you our findings. This is in line with our complaints procedure, which we will send you a copy of before MW GP DMP 05/25 our agreement starts. It is also available on our website at www.moneywellness.com

c. If you are still unhappy after we send you our final response, or if we don’t send you a response within eight weeks, you can complain to the Financial Ombudsman Service. You can:

• phone them on 0800 023 4567;
• send an email to [email protected]; or
• write to The Financial Ombudsman Service, Exchange Tower, London, E14 9SR.

For more information about the Financial Ombudsman Service, visit their website at www.financial-ombudsman.org.uk.

How and when we can change these terms and conditions

a. If we want to make changes to these terms and conditions we will give you at least 30 days’ notice. If you do not agree with the changes, you can end our agreement as set out in section 6, ‘How you can end our agreement’.

b. We will only change these terms and conditions if this is necessary because of changes:

• to market conditions that affect our business;
• in technology;
• in payment methods;
• in law or regulation; or
• to our systems.

Disputes about the terms of this agreement

c. Any legal disputes about these terms and conditions or our dealings with you in connection with this agreement will be decided under English law. The courts of England and Wales will also be able to deal with any legal disputes connected with this agreement. If you live in Scotland, you can use the courts of Scotland. If you live in Northern Ireland, you can use the courts of Northern Ireland.

d. If a court or other relevant authority (for example, the Financial Conduct Authority) ever decides that any of the paragraphs in this agreement cannot be enforced, the remaining paragraphs will stay in force.

e. This agreement is between you and us. No other person has any right to enforce these terms and conditions.

How we send you notice

f. If we have to contact you or give you written notice under these terms and conditions, we will do so by email or by writing to the last address you gave us.

If unexpected circumstances affect our agreement

g. You and we will not be liable if the obligations under these terms and conditions cannot be met due to circumstances that could not reasonably be expected, avoided or controlled. This includes delays or failures caused by:

• civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether it is declared or not) or threat of war;
• fire, explosion, storm, flood, subsidence, epidemic or other natural disaster;
• it being impossible to use railways, airways, roads or other public or private transport; or
• it being impossible to use public or private telecommunications networks.

h. If we cannot meet our obligations because of circumstances that we could not have reasonably expected, avoided or controlled, we will do what we can to find a way around the problem as soon as possible.

i. Nothing in this section limits our liability for acting fraudulently, or removes or limits our liability that cannot, by law, be removed or limited.

Not enforcing this agreement

j. There may be times when we do not insist that you do something you have agreed to do under our agreement. If that happens, it does not mean that you no longer have to do those things in future.

k. We can still enforce our rights under this agreement if you do not do what you agreed at a later time.

Transferring our rights and obligations

l. If you want to transfer your rights or obligations under these terms and conditions to another person, you must get our permission in writing.

m. We can transfer some or all of our rights and obligations under these terms and conditions to somebody else. If we do, we will write to you to let you know. This will not affect your rights, including the right to end our agreement. If the transfer means that somebody else will be providing the service to you, we will try to make sure that they provide the service on the same or better terms.