Debt Management Plan
One payment you can afford.
Combine your non-priority debts into one informal monthly payment based on what you can realistically afford.
Is it right for you?
A DMP may suit you if…
- You can afford a reduced monthly payment
- You have two or more unsecured debts
- You want flexibility to change or end the plan
- You’d like creditors contacted on your behalf
It may not be suitable for
- Priority debts like rent, mortgage or council tax arrears
- Situations where debts would take decades to clear
Don’t worry — there are other options, and our check will point you in the right direction.
Real-life example
How a DMP could help.
Sarah, 34, Leeds
Sarah had four credit cards and a loan. Minimum payments were leaving her short every month.
After review, Sarah’s creditors accepted a reduced monthly payment she could keep up with.
Total debt
Monthly payments
Creditors to deal with
Illustrative example only. Names and figures are representative; your outcome depends on your circumstances.
How it works
How a DMP works.
Review your budget
We look at income, essential bills and what’s left over.
Agree a payment
One affordable amount is proposed to your creditors.
Pay monthly
Your payment is shared fairly between creditors.
The full picture
Advantages and disadvantages.
Advantages
- One manageable monthly payment
- Flexible — payments can be reviewed
- Creditors may freeze interest and charges
- Less contact from creditors
Things to consider
- Not legally binding — creditors can still chase
- Interest is not guaranteed to stop
- Usually takes longer to repay
- Credit rating will be affected
Could a DMP work for you?
Five quick questions. No credit search. No obligation.
Safe, secure, confidential
DMP FAQs
Common questions.
Can I include all my debts?
Most unsecured debts like credit cards, loans, overdrafts and catalogues can be included. Priority debts are handled separately.
Will interest stop?
Many creditors agree to freeze interest, but they are not obliged to.
Can I end a DMP early?
Yes. A DMP is informal, so you can end it or move to a different solution at any time.
Not sure if a DMP is right for you?
Answer five quick questions and we’ll help you understand which options may suit you.
Check my options