Disadvantages of Debts Management

A Debts Management Plan is a financial agreement with your creditors, and there are some disadvantages. For more information about whether a Debts Management Plan is right for you, call free on 0808 131 9112. 

Debts Management Disadvantages  

  • Creditors my not accept your offer.
  • It will take you longer to repay your debt, although they will be more affordable on a monthly basis.
  • Your credit rating will be damaged.
  • Interest may still be added to your debts
  • No amount of your debt can be written off.
    If you are looking to write off your debt then see our IVA page for further information.

If you are looking at alternatives to Debts Management then take the Debts Test which will show you some of your options.  



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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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