When considering debt management, you should also be aware that unlike an IVA (Individual Voluntary Arrangement), it is not a legally binding agreement. There may be other debt solutions available that are more suitable to manage your debt, so call us first to find out more.
Debt Management Pros:
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Monthly payments are affordable |
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Interest is sometimes frozen |
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We will deal with all of your creditors |
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Your home will not be at risk if you keep up payments |
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You have access to help if creditors contact you |
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Your friends and family don’t have to know |
Debt Management Cons:
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Not legally binding |
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Creditor’s can still contact you |
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The debt does not go away (it can get worse) |
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A DMP can take a long time to complete |
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Your credit rating will be affected |
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Interest can sometimes continue to build up |
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