Debt Management Plan

A debt management plan (DMP) allows you to pay back your debts at a rate you can afford. DMP’s are suitable for non priority debts like credit cards, overdrafts & personal loans.

You make 1 monthly payment to your DMP provider who will then in turn pay your creditors. There is a fee involved for managing your DMP, the amount is different dependant on the company you wish to use. There are debt charities who will set up a DMP for free.


  • Only pay what you can afford
  • 1 monthly payment
  • Can add household bill arrears to the DMP to get you back up to date
  • Regularly reviewed to make sure it is affordable

Risks of DMP

  • Creditors may still contact you
  • Creditors may continue to add interest and charges
  • Creditors don’t need to agree to reduced payments
  • Further action may still be taken against you, CCJ’S etc

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