Debt Management Plans - Do You Qualify?
Debt Management Plans are the most flexible of all debt solutions. However, there are a few factors involved in whether or not you may qualify.
They include:
- Your types of debt that can be included in a debt management plan include; loans, credit cards, store cards, overdrafts, catalogues.
- Types of debt that cannot be included in an debt management plan include; mortgages, secured loans and hire purchase (e.g. cars).
- Typically our debt management companies require you to have 2 or more creditors. While this is not a legal requirement, due to the debt management plan process, it can make it more likely for your creditors to agree to the plan.
You do not necessarily have to be employed to qualify for a debt management plan, unlike an IVA, which requires a fixed income.
Regardless of these requirements we would always suggest you use our free debt calculator to compare our debt management companies. Once you select a company, an advisor will be in touch to help you with a solution right for your needs.
