Myvesta UK has launched a new credit card calculator called AllPaid, aimed at helping individuals calculate and pay off their debts.
The non-profit money management organisation helps people to clear their debts faster by encouraging them to pay off their most expensive debts first - and saves them money.
Chairman of Myvesta UK, Steve Rhode, said: "People simply don't have the necessary skills or are too busy to effectively put together and maintain a payment plan on their own.
"That's where our AllPaid program steps in. We take over the responsibility of handling the bills and are able to reduce debt faster than people can do on their own."
Mr Rhode also said that a lot of situations are not as hopeless as they seem and it would be easier for more people to pay off their debts than they think.
Recent figures show that UK consumers pay £560 million a month to credit card firms in interest and the average household owes £2,250 on credit cards.
According to Mr Rhode, people see Myvesta as a "financial crisis centre".
He said: "When helping people with money problems there is no one-size-fits-all fix."
"We specialise in developing customised solutions for each person."To read more about Debt Consolidation, click here.
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