Ok - I could do with a bit of help - briefly and not going into sob stories - MBNA credit cards x2 totalling 21K. Have been paying interest only for 4 years - they did lower the interest rate last month after a phone call. Still paying out 450(ish) per month to them. I contacted debtmanagement.ie today - based in Derry. Firstly, they will charge 1 months fee upfront - this is equal to what your payment will be, in my case 120 per month. Then out of this 120, 30 goes to management company, and 90 goes off my debts to MBNA. They explained to me that MBNA will not accept only 90, which is fair enough, so after 6 months they will sell debt on to a third party for approx half of the debt, who will then get debt collectors to arrange collection. ICB will be informed of default. I will then come to an agreement with debt collection agency, who will accept the 90 per month as they will eventually get 21K back, even if it is over 19 years. If my circumstances do improve I can pay a little more each month off the debt. I did contact MABS for advice, but they wanted to incorporate everything into their systems, and we are managing ok on a month to month basis, the only struggle we are having is with MBNA. Any advice or thoughts would be appreciated, before I make final decision about going with this company.