Welcome to the new Debt Questions forum. Feel free to say Hi and tell us a little about yourself.

Moderators: TalbotWoods, JaneClack

By iaintw
#472408 my name is iain i am from the uk and i am also doing law and criminal justice.
I am also a disable person as well. I would like to tell you
1. debt management plan is a good idea for people who are have money issues at this differcult time for you.
2. Most banks cannot help you with your finanicial issues if you got problems with money my advice is to get to dmp and they can help you. But the banks will charge you for interest and debt interest which i am against it
3. payplan or other debt management planners are offer free of charge advice which is excellent.
my advice is to stick to dmp and let them deal with your debts.

regards iain
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By JaneClack
#472411 Hi and welcome to the Forum

We too agree that a debt management plan (DMP) from a free provider can be a great help for those with money issues. We do not forget though that there can be alternatives such as IVAs, Debt Relief Orders (DROs) and bankruptcy. Basically any reputable company will charge no fees for looking at the situation for you and giving you the most appropriate options for those situations. We would always recommend a non fee-charging provider for DMPs and only those who charge no up front fees for an IVA and take their payments from the monies paid into an approved IVA and make their fees clear.

Sometimes though there may be other options and as the FCA make clear sometimes a remortgage or consolidation through securing on the property can be the most appropriate so you should look at all suitable options and get the pros and cons before deciding.