Debt management has been around in the UK since 1993. Since the beginning debt management has seen tremendous growth in the United Kingdom with an astounding over 20,000 people a month embarking on to a Debt Management Program (DMP) that’s over 600 people every day. A report estimate again to be in excess of over 2 million people having been on a DMP in the UK.
This particular product is designed to take the pressure away from the client in making high payments in which they can no longer afford, this Product is great and gives the client breathing space while their situation improves, however this method conventionally will never clear off the debts only provides you with breathing space, till your circumstances change for the better, most companies after being with them for a period of time will offer too you an IVA or bankruptcy to enable you to rid the debt.
The average life expectancy of someone on a (DMP) is 23 months, they are may reasons why this is; people get bored don’t feel like their going any where so leave or either try another product, re-mortgage or just stop paying the debt and the debt remains with them, trying to run away from creditors does not help as they will not go away.