Warning over fee-charging debt management plans

The research aims to raise an alarm around struggling households facing unnecessary charges for DMPs. The research was commissioned by Lloyds Banking Group and the Money Advice Service and conducted by the Centre for Research in Social Policy at Loughborough University. It suggests that one in ten people who are charged from a DMP have to pay their fees up front. It argues that this advice should be banned. The research suggests that the failure of these plans reflects the poorer practices of fee charging companies, as well as the additional cost of fee-charging plans.  Similarl...