Debt management plans, for those who have had no experience of them, can be confusing business! And let’s face it, talking about your debts, possible solutions and even finance in general can be difficult. Nobody feels particularly comfortable discussing financial problems.
This is partly why there are so many myths surrounding debt management. One such belief we find consumers often have is that they may not be eligible for debt management unless they own their own home.
Are Non-Homeowners Eligible for Debt Management?
Categorically, yes! Eligibility for a debt management plan is based on your debts, number of creditors and your ability to make repayments. It’s not based whether or not you own your home.
There are other debt solutions out there that might require you to own your own home. An example might be a debt consolidation loan that is secured against your property.
But debt management plans are not secured against your assets and, as such, you don’t have to own a home to apply.
If you’re struggling with debt from multiple creditors and you’re not sure of your options, get in touch with Moneysolve. We can advise you on the most suitable debt solutions based on your personal circumstances and you can be completely sure that your call will be handled in confidence.