Summary :
 |
Affordable - only pay
what you can afford. |
|
Easier
budgeting - just one monthly payment to
your creditors. |
|
Reduce stress - we deal
with your creditors for you. |
|
Freeze
interest - we will negotiate with your creditors
to try and achieve this. |
|
Flexible
- your DMP can be changed if your circumstances
alter. |
What is Debt Management?
Debt Management Plans (DMP) are
an informal method of dealing with debt problems.
A DMP is based on you offering a monthly amount
that is affordable to you. In return, your creditors
will usually agree to freeze or reduce interest.
As you are making lower repayments a DMP will
obviously extend the length of time it takes
to repay your debts.
Will my creditors agree?
Many of your creditors will welcome
a DMP as this method provides them with the
greatest possibility of recovering all of their
money, unlike an IVA
or Bankruptcy.
How will I know if a DMP is
right for me?
Before we suggest a DMP we will
talk through all of the options open to you
to resolve your debt problems, as there may
be a more suitable option for you. We will also
explain the pros and cons of each option and
answer any questions you may have. More
info
We can advise on whether a DMP
is the right solution for you.
