Debt Management Plan

Debt Management (DMP) is an agreement which decides how much an individual or family can pay their creditors each month. Debts are consolidated into one affordable payment. This payment is made to your creditors once an agreement has been made. The plan can vary in length / time depending on the amount of debt and the monthly payment made. Interest is reduced or frozen during the plan.

Every 6 months a 'financial review' is carried out by your advisor. Your expenses may have changed so the plan may also need updating to suit your needs. Offers are then made on your behalf to creditors with the new changes (if there are any). 

Every month a statement is sent, showing payments made to date, with any latest creditor and company news. Creditors may send you their monthly statements. This way you can keep up to date.

If your circumstances change, the Debt Management Plan will change with you. Remember, this is your plan based on your figures - not on the creditors collection terms!

You need to have 2 debts and over £5000 outstanding to apply. No credit check will be made. All information is confidential. We are not a call centre.

If you have debts of £10,000 - we could reduce your payments to £120 per month*

If you have debts of £15,000 - we could reduce your payments to £160 per month*

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WE DO NOT CHARGE FOR THE ADVICE WE GIVE - THIS IS A FREE ADVICE HELPLINE

*Debt Management Plan is based on affordability. Apply online and we will call you back.

Also Known as:
-Informal Repayment Plan
-Informal Arrangement
-Family Arrangement