Debt Management Plans

Explained.....

The most important feature with a Debt Management Plan is that they are only an option for dealing with unsecured debts. Unsecured debts are usualy, credit cards, atore cards, catelogues, bank overdrafts and unpaid utility bills.

Secured debts are not covered by our Debt Management Plans.

Secured Debts, include the following.......

  • Mortgages and second charges.
  • Lease agreements
  • Secured car finance

These debts sould be excluded from any Debt Management Plan

A Useful point that should be made clear is that many debt management companies will not consider debts on consumer goods where less than three payments have been made. You should remember this and maybe plan ahead by making at least four to five installments on all your debts before seeking a debt management plan.

 

Debt Management Explained

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Debt Management Glossary Of Useful terms

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