Debt Management Plans	Debt Consolidation	Bankruptcy	Debt FAQs

Debt Management Plans Ireland

What is a Debt Management Plan?

A Debt Management Plan also refered to as a DMP is a debt solution that Debt Freedom Ireland offer to people who cannot afford to keep up with their payments. A Debt Management Plan is an informal agreement between you and the credit companies that you owe money too were you agree to repay your debts at a lower rate each month which is affordable to you. Debt Freedom can organise and manage your debt management plan for you. We can speak directly to your creditors on your behalf and work out the terms of your debt management plan agreement for you. We aim to get your debts reduced as low as we can so that you only have one manageable monthly payment each month

A debt management plan is a great dsolution for people who are struggling financially every month. Read below to see the benefits of a debt management plan.  If you have debts between 2 and 15 thousand Euros a Debt Management Plan might be a good solution for you. Read on to see the pros and cons of being in a debt management plan.

Benefits of a Debt Management Plan?

• A DMP is an Informal Arrangement, so you have complete control over it
• You can regain control of your finances
• You will only have  one single affordable monthly payment
• You can take control of your debts without taking out another loan
• We can reduce or freeze the interest and charges
• Demands and harassment from creditors will stop

Disadvantages of a Debt Management Plan

• A DMP is informal and not a legally binding so you or the creditors can opt out at any time. If your creditors feel that you are not sticking to the terms of the agreement they can end if at any time.
• It can last for a very long, years maybe, as you will have to pay back all of your debt

How long does a Debt Management Plan last?

How long a Debt Management Plan will lasts depends on:

• How much debt you have to repay
• What your monthly payments are
• How long your circumstances will remain the same.

You may want to remain in the plan until the debt is cleared, or you may see it as a temporary measure. You may want to clear your debts as soon possible, every situation is different.

Am I eligible for a Debt Management Plan?

If you are considering entering into a Debt Management Plan and want to know if you qualify contact us now and speak to one of our friendly financial experts. They will be able to tell you what options are available to you regarding your individual situation. All of our advice is free and we will help you achieve your best possible solution. We strive to help you no matter what your debt situation is. Visit our contact page now to see the various means of getting in contact with us. Alternatively fill out the form on the top right of this page and we will call you back asap. All of Debt Freedom advice and help is totally free and confidential.