No. A debt management plan is an informal debt solution that is not legally binding on creditors. This means the creditor can still enforce CCJ's and instruct bailiffs to remove assets irrespective of you being in a debt management plan.
The debt management plan itself will not show on your credit file however, this does not mean you credit record will not be damaged. Unless you make the full, contractual payments to all your lenders, adverse information will be recorded on your credit file. Under the terms of your debt management plan, it is likely [...]
This depends on several factors; the monthly payment you can afford to make the amount of debt you have whether any fees are deducted from the monthly payments you make You must remember that under a debt management plan, none of your debt will be written-off. This can mean that the plan continues for many [...]
No. Call us straight away on 0800 1804 933, in most cases we can prevent CCJ's from being enforced by bailiffs if we are instructed early enough.
It may be that declaring bankruptcy is the right solution to your debt problems however, you should take professional advice before proceeding with this. There are lots of other personal debt solutions available and it is vital that you have considered all these before going bankrupt. Once we understand your financial circumstances, we will explain [...]