The best way that you can determine if a Debt Management Plan is the best debt solution for you is to speak to a qualified advisor. Our IVAs.co.uk advisors are fully trained to help you explore your debt solution options. Call today on 0808 131 9103.
You are insolvent.
Being insolvent means that you cannot afford to make the required payments to your debt. This does not have to be a problem for a Debt Management Plan as your monthly outgoings will be reduced.
You are employed.
You need to have some form of stable income for a Debt Management plan as you have to make monthly payments to your creditors.
If you have debts over £15,000 then you should consider whether an IVA is your more suitable option. IVAs were introduced by the Government as a more practical alternative to bankruptcy. At the end of your IVA agreement any unaffordable debt can be written off!