Monthly Archives: March 2011

If I do a DMP what living expenses are allowed?

You are allowed reasonable living expenses if your start a DMP. How to create your budget. What are realistic figures? Will your creditors agree? Can you save?

Can I use the first time buyer loan scheme if poor credit?

In the Budget this week, the government launched a new loan scheme designed to help first time home buyers get a foot on the housing ladder. We review whether the scheme will help those people who have a poor credit rating.

New Bankruptcy rules mean better returns for creditors

New legislature means debtors will be given £10 a month to spend for three years. But critics say this serves only to extend their misery

Including the cost of children in a DMP

What expenses can you include for your children if you start a DMP? What if they are no longer at school? What if your creditors reject you expenses budget?

Can I use a joint bank account if I do a DMP?

It is possible to keep a joint bank account if you start a Debt Management Plan. What if you have other debts with the bank? Who is liable for any overdraft?

If I stop paying debt for six years will it be written off?

Debt can become statute barred if you do not pay it for 6 years. Can creditors prevent debt becoming statute barred? Is it possible to hide from creditors?