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

When you enter into a Finance Management Plan you are breaking the terms of your original credit agreements and this will be noted on your credit file, however if you have missed or made late payments to your creditors, then it is likely that your credit rating is already damaged.

This information will be available to any potential lenders and will affect your ability to obtain credit in the future.

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 Finance Management Plan FAQ

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

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

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

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

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