It is likely that your circumstances will change during your Debt Management Plan. What if your finances get better? What can you do if they get worse?
Debt Management Plan FAQ
You do not have to release equity if you use a Debt Management Plan (DMP). Can mortgage arrears be included? Is your property at risk of Charging Orders?
How to set up a Debt Management Plan yourself. How much to pay each creditor. How to negotiate with them. When to start making your payments.
Not all debts can be included in a Debt Management Plan. Which debts cannot be included and how to manage these. Can you chose to leave debts out?
What is the Debt Management Protocol? What standards has it introduced? Are they mandatory? Will the introduction of the Protocol be effective?
What is a joint Debt Management Plan? How much will the monthly payments be? Can you leave debts out of the Plan? What if you split up during the Plan?
Paperwork is normally required to start a Debt Management Plan? What paperwork do you need if you manage the Plan? What if you use a debt management company?
Is it possible to change your debt management company? How to switch to a new provider. Can you start managing you own Plan? Could you stop and use a different solution?
A CCJ cannot normally be included in a DMP. Can you leave the debt out? Can you change the payment? Can you get a CCJ during a DMP? Is a DMP the best solution?
DMP payments are based on what you can afford. How this is calculated? Should you pay as much as you can? What if your creditors reject your payments?