Debt Management Plans
Bring your unsecured debts into one affordable monthly payment, with all creditor communication handled for you.
See if you qualifyA Debt Management Plan (DMP) consolidates your unsecured debts into a single, affordable monthly payment. We negotiate with your creditors on your behalf, often reducing payments to a more manageable level, and handle communication for you. Suitable for debts over £2,000.
How we can help
The main benefit is one cost-effective monthly payment distributed to your creditors on your behalf. After your essential living costs are accounted for, you pay only what you can comfortably afford. We’ll explore all the alternatives with you so you can make an informed decision, and if a DMP is right you’ll be looked after by our dedicated team.
Key facts about Debt Management
A DMP is an informal arrangement — there’s no binding contract, so you can withdraw at any time, and so can your creditors. Payment is based on affordability. Creditors aren’t obliged to freeze interest and charges, which can extend the time it takes to repay, so it’s important to understand the estimated duration before you start. A DMP can affect your credit rating, particularly if you’re already behind.
Am I eligible?
- You’re struggling with repayments on debts such as credit cards and loans
- You have two or more creditors
- You can manage to pay at least £80 a month
Free, confidential advice with no obligation.
Free, independent debt advice is also available from MoneyHelper, StepChange, National Debtline and Citizens Advice.