Debt Management Plan

If you have debts of more than £2,000 we can help. We tailor specific debt plans depending on your circumstances, whether you have debts of £2,000 or £100,000 we have the solutions for you.

What Is A Debt Management Plan?

A Debt Management Plan (DMP) is an informal agreement between you and your creditors where you will come to an arrangement to make reduced payments towards the total amount of your debt.

When arranging a DMP, debt advisors will make contact with the creditors and try to renegotiate the debt on behalf of you. After that, you would pay one ‘agreed’ payment monthly which is then distributed out between the creditors.

Do You Qualify For A Debt Management Plan?

To qualify for a DMP, your total debt must exceed £2,000 and you must owe to at least two different creditors (different banks, credit card companies etc.). If your debt exceeds £15,000, an Individual Voluntary Arrangement (IVA) would be a better option.

Debt Management Plans are available to residents of England, Scotland, Wales and Northern Ireland. Residents of Scotland may also want to consider a Trust Deed which we can also arrange. In all cases, please complete our contact form.

Quick Debt Management Plan Application Process

Step 1
Complete our contact details form on this page.
Step 2
Based on your personal circumstances, we will create a debt repayment proposal for you. We will talk you through the proposal to ensure you are happy with all the details.
Step 3
We will contact all your creditors and negotiate your proposal with them.
Step 4
Once the proposal is agreed and finalised, we will set up a standing order to transfer your payments to your creditors.
Step 5
Become debt-free!

Debt Management Plan Frequently Asked Questions:

Will I lose my house?
Under a Debt Management Plan you cannot be forced to sell your property and therefore your home will not be at risk.

Will interest on my debts be frozen?
This is down to negotiation between the debt advisor and the individual creditors. Interest can generally be lowered or frozen if you agree to pay your debts within a specific timescale.

What type of debts can be included in a Debt Management Plan?
The type of creditors that can be included are: banks, finance companies, credit card companies, store card companies and the Inland Revenue. Mortgages and loans secured on your property cannot be included.

For any other questions, please complete our contact form for a no-obligation call from our debt advisors.

Data Protection

Your data is safe with us, we will not pass any of your details onto anyone other than our advisors. We will not add your address or email address onto any mailing lists.

We are a registered Data Controller with The Data Protection Act 1998, registration number Z1587785.