Debt Management Plans & Solutions
Ever increasing debts and decreasing lenders mean some people may end up with more month at the
end of their money! If this is you there are a number of options or routes you can take..
Debt Management Plans Info
When you take on a debt management plan, your debts can be frozen, admin costs are
less than IVAs, and you are allowed to have your own current account. You must keep to a budget during the debt management term, which could be longer than the standard 5 years for an IVA. You will still have to pay off the entire sum you owe to your creditors, unlike an IVA where 50% or more can be wiped off.
The downsides to debt management plans are quite significant. Read more about
the downsides of debt
management plans.
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