A Debt management plan is an arrangement between yourself and debt management companies who agree to supervise and distribute your debt repayments to people you owe money to. Some people can restructure their repayments into a more convenient plan and you won't have to sell your home as part of the agreement. Interest charges are not usually stopped and debt management companies may or may not charge a fee for their services.
Whether a secured Loan or remortgage right for you is down to individual choice, Mortgage rates are usually lower and set up fees higher than those of loans because of the length of time involved and your home will be at risk in with both a remortgage and secured loan if you cannot meet the repayments.
If you can consolidate all of your existing debts into a loan that offers lower total repayments then a consolidation loan might be the best solution; you will save money in the long run and avoid more drastic solutions. This might not be possible in some cases as many people who are experiencing serious financial difficulties tend to have poor credit ratings; if this is the case then taking on more financial responsibility is likely to make your situation worse.
You can remortgage if you have a fixed / discounted mortgage, but you will normally have to pay an early settlement charge to your lender. If your settlement charge is high it might be best to opt for a secured loan. Remortgages normally take approximately 6 weeks and secured loans approximately 3 weeks.
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