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Debt management & CCJ's
A debt management plan is a great way of reducing your monthly payments to your creditors to an amount that is more affordable. Whilst a debt management plan will help reduce payments to your creditors and allow one single more affordable payment there are a few differences as far as what a debt management plan can achieve depending on the individual debt.
CCJ's or County Court Orders differ from defaults in that the new payment arrangement has been agreed or set by the courts - this means altering your creditor repayments or an existing debt management plan where there are CCJ's require a little more work than simply offering a new payment arrangement to the creditor involved.
It is worth mentioning there are a few government run charities set up to help with debts - namely the Consumer Credit Counselling Service (CCCS) the CCCS claim to be able to do what a debt management plan company will do but without charging any fees. However the CCCS will generally not get involved with CCJ's. If you have ever contacted the CCCS and mentioned you have CCJ's in place they would more than likely tell you they can not touch the repayments on this and that you must pay what has been arranged even if you can not afford to.
A debt management company on the other hand will go that little bit further to help, enabling you to know that your debts are being managed in a way that suites you.
Working your way through sorting out CCJ's requires a little more thought and explanation. In order to re-arrange a County Court Judgment properly you will need to apply to the courts for a variation order and will more than likely need to provide proof that the payments arranged by the courts are unaffordable to you, to that end we have a page dedicated to help helping you manage CCJ's and what you can do to either alter the payments or suspend payments depending on your circumstances.
