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

When you enter into a Financial 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. Call free for expert and completely confidential advice.

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Other Finance Management Plan FAQ

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

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

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

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

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Money Debt and Credit Ltd, Registered in England & Wales No.05588842. Registered Office: 45 Clarendon Road, Watford WD17 1SZ
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