Can my bank (Lloyds TSB) demand back in full payment a loan of 拢13.400 if i do a Debt Management Programme....

recommended to me by Citizens Advice Bureau? i will have to change banks before Lloyds are aware of what i'm doing. My debt management company (goverment funded free one) will be contacting lloyds to ask for the interest to be frozen and payments lowered, but can the bank legally demand this money back in full immediately? And where would i stand legally,as obviously i have n't got that sort of money or i wouldn't be applying for the debt help.

not really, the debt management company will make the company settle for less usually, I do have to warn you though if you ever try to get a mortgage and your credit report shows that you worked with a debt management company they will never give you a loan. if you file bankruptcy they will give you a loan 3 days after discharge. so if you plan to finance in the near future do not use a debt management program. believe it or not you can pay off your debt yourself by asking your debt companies to let you skip a payment, and use that extra money to pay off another debt and re-budget, pay the next debt off, "roll" the money into the next, ask a debt counsl.how.

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