• What is Debt Management?
• Are all of my debts included?
• Do they charge a fee for this?
• Would all the harassment from my Creditors stop?
• I am still receiving letters. What should I do?
• Is Debt Management legally binding?
• Will all future interest and penalty fees be frozen?
• How much debt would I need to have to enter in to Debt Management?
• Can my Creditors still take court action against me?
• What happens if I fail to make the planned payments?
• If my payments have been reduced will I have to pay the debts for longer?
• Will my employers find out I had entered in to a Debt Management agreement?

Are all of my debts included?
No, there are priority debts such as Mortgage repayments that you would need to maintain yourself.

Do they charge a fee for this?
Normally Debt Management companies will charge a fee to deal with all of your Creditors. Some however do not charge for their services.

Would all the harassment from my Creditors stop?
Once Creditors have entered in to an agreement they generally would deal with the Debt Management company who act on your behalf.

I am still receiving letters. What should I do?
Do not ignore any letters from your Creditors. Instead forward them straight away to your Debt Management company.

Is Debt Management legally binding?
No, it is purely voluntary arrangement with your Creditors. They do not have to agree to it.

Will all future interest and penalty fees be frozen?
Most Creditors when asked will freeze additional interest and penalty fees but they are not compelled to do so.

How much debt would I need to have to enter in to Debt Management?
You can enter into a Debt Management agreement with debts of up to £15,000. If your debts are greater an Individual Voluntary Agreement may be appropriate.

Can my Creditors still take court action against me?
In short yes, but they generally would not once they have entered into a Debt Management agreement with you.

What happens if I fail to make the planned payments?
Your Creditors would be able to start proceedings against you as you had broken the Debt Management agreement terms.

If my payments have been reduced will I have to pay the debts for longer?
Yes, as you are making smaller payments the debts will take longer to clear. If your Creditors have refused to freeze interest the debt will certainly take longer to clear.

Will my employers find out I had entered in to a Debt Management agreement?
No, unlike Bankruptcy Debt Management would not affect your employment and would not be advertised in the press.