What is a Debt Management Plan?

A Debt Management Plan or DMP is a solution that basically allows you to pay back your debts at a rate that you can afford, whilst giving you the flexibility you need.

• One reduced monthly payment.
• Negotiations happen with your creditors to try and stop your interest and charges.
• You retain your financial freedom.
• Gives you the flexibility to deal with your creditors in a way that suits you.
• DMP’s aim to take away the stress of dealing with your creditors.
• An option that will allow you to become debt free.

A Debt management plan can be an effective solution for debts under £15,000.

Debt Management plans can be helpful in certain circumstances; However there are solutions available that could get you debt free quicker having paid back far less, so its worth talking to one of our advisers to get free and friendly advice on your options.