A debt management plan is meant to assist manage multiple unsecured debts by condensing them into one affordable monthly payment and will be the answer to assist clear debt from your life.
These plans, or DMPs, are often arranged by the debtor with their creditors or through an authorized debt advisor acting as an intermediary between the debtor and creditor to repay the outstanding amount for an agreed fee.
Debt Solutions
There are a variety of debt solutions available and these can vary relative to your needs. A debt management plan might be an appropriate solution if you've got a spread of various, unsecured debt owed to lenders, such as:
Banks loans
Overdrafts
Personal loan
Payday loans
Credit card debts
They are not however available for debts relating to:
Council tax
Utility bills
Rent or Mortgage
Income Tax and social insurance
Court fines
