Wednesday 28th December 2022

What's it all about?

This article' designed to help you:

  • Understand what a debt management plan is
  • What they do
  • And if one is right for you?

Most people have debt. A mortgage, personal loan, store or credit card are all forms of debt. It’s only when you can’t repay a debt that it becomes a problem. It’s important to remember that, in our society, people blame themselves for difficulties with debt but, as is becoming all too clear, it is often circumstance that can put people into perilous situations. For example, perhaps your mortgage was affordable but now rising interest rates put your monthly repayment well beyond your means – which very many people are finding right now. So, first things first: don’t blame yourself. This only adds to your stress. Also, burying your head in the sand will only make it worse. Take a deep breath, remind yourself anyone can get into debt difficulties, and do something about it. That begins with getting a clear picture of your own personal financial situation and doing a little digging to find the best option for you. To help you get started on a solution, check out our helpful guide to some of the options open to you…