What are the advantages of a debt management plan?

IVA Debt Management

In most cases interest and charges on your unsecured debts will be frozen.
As a debt management plan is an informal agreement they are not published in local newspapers, unlike bankruptcy.
It will not affect professions such as the Police Force and Armed Forces, neither will it affect your ability to hold public office or act as a company director.
Your contributions are based on your ability to pay.
Administration costs should be lower than bankruptcy or IVA, enabling higher payments for creditors.
The debtor is able to operate a normal current account, as long as it does not have an overdraft facility.
Once the debt management plan is successfully completed your debts are effectively written off, providing you with a fresh start.
All debt management plans are NOT recorded in a public register and will NOT appear on your credit file. This will NOT affect any future applications for credit.

If you would like more specific information relating to your financial position please ask an expert. Or Apply online