Hi I am newbie in this forum Can the companies that I owe money to threaten to take my house or flat once that I am in a Debt Management Plan?

Anybody can give some comments?

Yes, they can. The only form of shielding you have from debtors is if you file for bankruptcy protection. Most "debt reduction" plans do NOT provide any kind of legal protection. Caveat emptor - buyer beware!

Christopher S. Penn
Producer, the Financial Aid Podcast
Free financial aid internet radio, no iPod required
http://www.FinancialAidPodcast.com

Oh my goodness are you serious? But why would they do that if you already had a plan to pay your debts? I had no idea.

MrsCasanova

As financialaidpodcast stated, the only way to shield yourself from debtor claims is to file personal bankruptcy, either Chapter 7 or 13. You should speak to bankruptcy attorneys in your area, who will give you a free consultation.

It is your creditors who have the option of accepting or not accepting a Debt Management proposal. If a creditor does not accept a proposal, they may accept the full standard monthly payment through a debt management program, but offer no other benefits. If not, you may have to pay your regular monthly payments to that creditor directly. You can get a rough estimation of how much DMP you will need to make by using this DMP Estimate Calculator.