The problem i have now is the only other option would be to consider taking a larger loan to pay everything back but as its not secured i only get accepted for very High interest loans , i went to the bank hoping they could increase the loan i have with them to pay the other loan as the 2nd loan i have is very high interest and i pay 176.00 a month ive had the loan nearly a year and i got a settlement figure and it was still 200.00 more than what i took out the one i have with my bank is reasonable and safe but they wont help me, i Have 1500 saved up and cant pay anything off with it! cause its not enough

A debt management, is a process where you come to an agreement with creditors to repay your debts. This is a non binding agreement to which the lenders don't have to accept your offer of repayment, nor are they legally obliged to agree or stick to the agreement. If the lenders don't like to offer of repayment, then they still have the option of taking you to court, issuing a CCJ etc.

An IVA, you need to qualify for however, you need a minimum debt of £15k. Lenders will always say to "avoid this" as it only lasts for 5 years, and what ever is still outstanding is written off. It's the last line before bankruptcy.

With regards to debt management, this will affect your credit file, potentially defaults may be registered against you by your lenders, some may update the file with "debt management", this will impact your ability to obtain credit, potentially affect any finacial associations you have, lower your credit score, increase rates for credit you may apply for in the future, as everything is on a "rate for risk", you would therefore be classed as a higher risk.

I'm a little confused by the calculations though. £10k at £200 pcm, would only repay £9,600. However, if there is a 16% managment fee, then you are only pay £168 pcm, mean in 4 years you will only have paid back £8,064. The managment fee is the monthly charge that the company you are with will take. Payment for it's services. I would question the figures as I smell a rat somewhere, it will take you a lot longer to clear the balances.

Lenders are under no legal obligation to freeze interest or charges, so in theory it will take longer than 4 years to clear the balances you owe.

In answer to your question regarding getting a mortgage, that to be fair is unanswerable. The current market, adverse lenders have pulled out, or limited the amount they will. It will all depend on the market at that time, if it's improved, what you credit status is, and, more importantly, if you have any CCJ registered against you.

Ensure you take independant advice first. Adverse credit, the current industry, it's all a mine field.

Im in the process of moving out and want to consolidate my debt into one monthly payment i have 2 loans and a cc and have been offered a debt management plan, i seeked financial advice from my bank one of the loans is with them and they were unable to help me but told me to stay away from the IVA option,i have been told this dosnt involve a Iva and i am considering taking this option but need more advice if i dont do this i will be left with no money to live on at the end of each month after all my outgoings, the amount i need is 10,000 to cover everything they have offered £200 a month payback over 4 years a one off 70.00 charge and 16% management fee (could you explain the management fee).I have been told this dosent involve a IVA but would like to know how badly it will affect my credit rating as me and my partner would eventually want to buy this house after a 2 years and im worried i wont be accepted for a mortgage