Call us now on 08000 77 4000
Turn a mountain of debt into manageable molehills with a debt management plan. We’ll give you all the help you need to put a DMP in place and reduce your repayments to a single affordable amount each month.
Customers can get free debt counselling, debt adjusting and providing of credit information services from the Money Advice Service – an organisation set up by the Government to offer free and impartial advice to those in debt. For more information from the Money Advice Service click here www.moneyadviceservice.org.uk
A Debt Management Plan, or DMP, is an informal agreement between you and your unsecured creditors to pay back non-priority debts, reducing your monthly payments to a single affordable amount each month.
There are both fee-paying and free-fee debt management plans available.
If you have a higher amount of debt a DMP may not be the right solution for you, as it could take you a lot longer to pay back your debts.
A DMP could be a good debt solution for you if you have some money left over each month after paying for food, accommodation and utility bills. The DMP provider will work with you to see what level you can afford to pay and this will be divided amongst the businesses that you owe money to.
Flexible – A plan can be agreed for any level of debt.
Security – The DMP does not include your assets.
One Monthly Payment – One affordable monthly payment to your creditors
Not Legally Binding – The DMP agreement is not legally binding.
Interest & Charges – Creditors may continue to add interest and charges..
Legal Proceedings – Once the DMP has been assigned, creditors may continue with legal proceedings.