In theory, there is nothing to stop someone with business debts setting up a debt management plan. In practice, a debt management plan is unlikely to be agreed by your business creditors. For example, HMRC will not usually accept payments through an informal debt management plan. This is normally the same with trade creditors, Business rates, VAT etc. If you only have ‘consumer’ debt such as credit cards, loans and personal overdrafts a debt management plan could be considered.
