Debt management plan DMP
DMP An easy one off payment per month to your creditors. Requested all interest and charges are frozen.
One easy payment per month
Request interest & Charges are Frozen
Stop creditors harassing you
Pay only what you can afford
Debt Management Plans (DMP's)
An informal and flexible way of helping you get back
on track with your finances.
Complete our free debt advice form to see if you
qualify for a DMP
A flexible and hassle-free repayment arrangement to help you get back on track with your finances
A debt management plan is an arrangement that we make with your creditors to reduce your repayments and pay-back all of your debt over a longer period of time. We’ll help you to work out what you need to pay out for each month and what you have left-over to pay off your debts.
If your situation changes, the arrangement can be changed to suit you, and it’s easy to cancel if you decide you no longer need the plan. You’ll pay a monthly fee to us to manage your debts, but this is taken from your repayment so you only ever pay what you can afford.
IVA—How is the DMP monthly payment Calculated?
- We will manage the contact with your creditors and provide them everything they need. So, as long as you keep in touch with us, your creditors shouldn’t need to contact you.
- You will just make one monthly payment to us, instead of paying all of your creditors individually.
- In the majority (99.68%) of cases, creditors will stop applying interest and charges, so the money you pay will come straight off the balance.
- You will have an online account which you can use to view your account and make changes.
- If your circumstances change, we will renegotiate the payments with your creditors.
For more information about a Debt Management Plan get in touch with us on 0161 905 4758