Client Portal
4 October 2012
Category News & General

If you are in a Debt Management Plan (DMP), it might not be the best option for you. Research estimates that more than 2 million people are in a DMP – with 35% of them not having been told there were other ways to deal with their debts.

We can provide a free review of your plan to deal with your debt problems.

A DMP can be suitable for providing breathing space following something like a redundancy, divorce or bereavement. However, in too many cases people are left in a DMP for too long, without making any significant impact on their debts.

Problems with a Debt Management Plan

The problems include:

  • Debts will not be written off and must be repaid in full
  • Creditors don’t have to freeze the interest on the debt
  • Creditors don’t have to enter the Plan, so may still demand immediate repayment
  • It could last a life-time

However, options like an Individual Voluntary Arrangement, Bankruptcy or Debt Relief Order can address all these issues.

We have helped a number of clients who came out of a DMP to get their debt problems sorted out once and for all.

If you’d like to discuss the above, give us a call on 0161 907 4044 or e-mail [email protected]

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If you are worried about your business or just want a (free) no obligation chat, contact Clarke Bell on 0161 907 4044 or [email protected] today. Our Licensed Insolvency Practitioners will provide you with the best professional advice for your situation.

For your free expert advice 0161 907 4044

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