Debt Management from Lawyers 4 You
Debt Helpline Freephone: 0800 249 4711
1. Is a Debt Management Plan suitable for me?
A debt management plan can help anybody who has unsecured debts that they are struggling to repay. Your situation should be that you have money left over after you have paid all of your living costs and household bills each month and owe money to more than one creditor.
Find out if you are eligible with our
free online assessment.
2. Is it a loan?
No. A debt management plan is a way to help manage your debts with your existing income.
3. How long will my debt management plan last?
The length of your plan depends on your individual situation. It is also dependent on your level of debt and monthly surplus when creditors freeze interest and charges, the length of the debt management plan can be dramatically reduced.
4. Will interest and charges be frozen?
Creditors don't have to freeze interest and charges but with our help they are often cooperative as they see that you are making every effort to clear outstanding debts.
5. Is my home at risk?
No, a debt management plan is an alternative to bankruptcy. It isn't legally binding so you will not lose your home if you continue to make the agreed payments into your plan.
6. Which debts are included?
A debt management plan will only help you make reduced payments to your unsecured creditors,
E.g :
Personal loans (HP agreements cannot be included)
Credit cards
Store cards
Catalogues
Overdraft
7. Can I enter into a debt management plan if I already have a CCJ?
Yes.