It’s been in the news quite a lot recently, but the question is… what is debt management?
On the surface, a debt management plan is an informal financial agreement between an individual and their unsecured creditors. It should allow borrowers to repay their unmanageable unsecured debts at a pace that suits their current circumstances.
To find out more detailed information about a debt management plan, you could read the guides on this website. Or, to gain a basic understanding, check out the following guide to debt management, which roughly outlines how a professional debt management plan might work.