Important points to remember:
Whilst lenders are not obliged to freeze interest and charges, in 89% of the cases currently
handled by the Pentagon Group, lenders have done so*. Where a lender does not freeze interest
and charges the amount you owe and the period over which you repay that credit account may
increase, though we will continue to request interest and charges be frozen once several
payments have been made to your Debt Management Plan (DMP).
* Figure accurate at the end of June 2010
Whilst entering into a DMP can adversely affect your credit rating it is our experience
that those who approach us already have an impaired credit record. By entering into a DMP you
will be showing your creditors that you are taking a responsible attitude to resolving your
financial problems and this could help you in the future.