Will my credit rating be affected if I go on a Debt Management Plan?

If you have missed or made late payments to your creditors, then it is likely that your credit rating is already damaged. Indeed, your creditors may have issued default notices because you have not maintained your contractual payments.

This information will be available to any potential lenders and will affect your ability to obtain credit. However it is important to remember that you should not be taking out further credit until your existing debts have been repaid.

Remember though, the fact that you are taking positive steps to clear your debt should help to rebuild your credit rating in the future.

For more information, call us on 0800 16 999 46 or simply fill in the online application form above. Our initial advice is free and completely confidential so why not give us a call today...

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Other Debt Management Plan FAQ

• Will you deal with all my debts in a Debt Management Plan?

• Will my creditors accept this arrangement?

• What should I do if my creditors continue to contact me or have passed the debt to a collection agency?

• What if my circumstances change?

• Can I still keep using / applying for credit whilst on a Debt Management Plan?

• Can I still get a County Court Judgement (CCJ) whilst on a Debt Management Plan?

• Can I add creditors to my existing Debt Management Plan?

• Will my credit rating be affected if I go on a Debt Management Plan?

• What is a Debt Management Scheme?

• Can you help me even if my debt is less than £3,000?

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