Debt Glossary - Debt Management

Debt Management refers to an informal arrangement made between debtors and creditors designed to help overcome difficulties in the repayment of the debt. For a person struggling financially a Debt Management Plan can be used to reach a more favourable agreement which will allow them to make affordable debt repayments and remove the threat of bankruptcy.

Debt Management Plans are usually arranged via a commercial debt management company or in some cases by the Citizens Advice Bureau.

Debt Management in detail
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