With a Debt Management Plan your home can be at risk of creditor action. Your creditors may decide to pursue County Court proceedings to obtain a CCJ, after which time they can eventually obtain a charging order.
A Charging Order is when an unsecured debt finally becomes secured against your home. This means that their debt is now safe from other insolvency proceedings and they are likely to get paid when you either sell or refinance your home.
This procedure cannot happen if you are in rented accomodation.
Need our experts to call you back? just enter your details and we’ll get back to you