question category: Debt Management

Debt management programs. Are they the same as a Debt Management Plan?
Submitted on: 26th Nov 2008 by Non-Member | Total Answers: 1

Are debt management programs the same as a debt management plan? I watched Channel 4 news and they talked about programmes not plans.

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Debt management programs

Hi there,

Yes a debt management program is the same as a debt management plan. It's essentially an informal arrangement that not legally binding, to pay back your creditors a lower monthly repayment until the debt is paid off. Sometimes a write-off or settlement can be negotiated upfront or during the plan, however most involve paying the full amount back.

Hope this help. Here's some links to more information on debt management and debt companies that can help arrange them. 

Submitted on: 26th Nov 2008 by TA Member

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