Pros & Cons of Debt Management

A Debt Management Plan is a long term financial commitment helping you to control your cash flow with one low monthly payment.

Please speak to one of our expert Debt Helpline advisors on 0808 131 9113 who will be able to give you specialist advice about Debt Management free of charge.

Debt Management Pros:

  • An affordable payment, based on your circumstances.
  • Only one monthly payment.
  • An informal arrangement allowing more flexibility.
  • We will deal with creditors calls and letter on your behalf.
  • Creditors may freeze interest and charges.

Debt Management Cons:

  • Creditors do not have to legally accept your offer.
  • It will take you longer to repay your debt.
  • A Debt Management Plan will damage your credit rating.


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Entering into an IVA may adversely affect your credit rating for up to six years from the date of approval.

Your property will be protected within an IVA but you may be required to release all or part of any equity during the period of the arrangement.

Failure to complete the term of an IVA can result in bankruptcy.

(In Scotland, a PTD is the equivalent to an IVA.)
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