Monday 11th of January 2010
If you have recently separated from your partner then you may not know how to sort out the issue of child maintenance, a payment which you could depend upon should you find yourself in debt.
Splitting up with a partner could have left you facing unsecured debts like store cards alone if you took them out in your name, although a debt management plan could help you meet these repayments.
With your income now stretched, you may want to get your hands on child support to take some of the burden off your reduced household income.
But according to the Child Maintenance and Enforcement Commission, a quarter of parents who have split have not spoken to anyone about their separation and this could include their lenders.
A debt management plan can help repay store card balances at a reduced interest rate, which could make your debt that little bit more manageable.
Debt management plans also extend repayment periods which can give you more time to repay what you owe.
"Too many children are missing out, partly because parents - during what is already a very confusing time - are receiving conflicting advice," explains Janet Paraskeva, chair of Child Maintenance Options.
By Kim Parsons
