I am aware of these charities but do they have the same ability to freeze interest and charges? How does an organisation like DM go about this? What Im failing to understand is why the Bank would actually go into negotiations with an organisation when its knows it will only be worse off. There seems...

I have around £8500 debt + £1300 overdraft with one highstreet bank. This is split across two credit cards and one graduate loan. I have spoken to the bank regarding a managed loan at a hefty 20% interest and monthly payments of £250. They would also suspend my maestro card privileges. Debt Matters ...

I am considering taking out a debt management plan with Debt Matters. Would you recommend this company? what are the pros and cons?