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Is Debt Management possible if living Abroad

If you want to start a Debt Management Plan (DMP) there are no restrictions if you are living abroad. The plan is simply an informal repayment agreement with your creditors. If you can make reduced payment offers which are acceptable to them it does not matter whether you live in the UK or elsewhere. As such if you have debts in the UK which you are struggling to pay but you have now moved to a different country there is nothing to stop you using a DMP if you like. You simply have to contact your creditors and start to negotiate with them. In addition you can start a Plan whatever your nationality. If you are living abroad there is nothing stopping you using the solution whether you are a UK citizen or a citizen of any other country.

How to start a Debt Management Plan if you are living abroad

Because a Debt Management Plan is an informal agreement there is nothing to stop you implementing the agreement yourself. If you are living abroad it is perfectly acceptable for you to negotiate directly with your UK creditors. You can agreed reduced payments with them without help from anyone else if you wish.

However if you are not living in the UK negotiating with your creditors can be difficult and expensive. You may not be able to afford the cost of multiple international telephone calls. In addition you may be living in a completely different time zone. You may be able to get around these issues by communicating with your creditors via e-mail. This will also mean that you have a record of all the discussions you have agreements you make with each of them. However if e-mail communication is not possible or you simply do not want to negotiate with each of your creditors yourself you may find that it is easier to use a debt management service to help you.

DM4U tip: A Debt Management Plan involves making a payment to each of your creditors each month. As such unless you have a UK bank account from which these payments can be made it is normally easier to use a debt management service based in the UK. You then only have to make a single payment to them each month which they will then distribute on your behalf to your creditors.

Do you live in Scotland?

If you live in Scotland then as if you were living in any other country there is nothing to stop you from starting a DMP. However before doing so you should also consider the alternative debt management solutions available to you.

The debt solutions available in Scotland are different to England, Wales & Northern Ireland. In particular there is a solution available in Scotland called a Debt Arrangement Scheme (DAS) which will could be a better option for you than a DMP.

Basically the DAS solution works in a similar way to a DMP but it also gives legal protection so once agreed your creditors are no longer allowed to add interest or charges to your debts by law.

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