Debt Management Plan (DMP)

• Are you finding it impossible to repay your debt?
• Do you not qualify for an IVA or prefer on informal agreement?
• Are you facing bankruptcy, CCJs or debt collection agencies?
• Are angry creditors pressuring you for over-due payments?

A DMP is not legally binding. It is not registered with the court. Any party is free to walk out of the agreement at any time. It can be for any amount, big or small, as long as it is over £1,000 and you have two or more creditors.

Unlike in the case of IVA, there is no elimination of debt in a DMP. You have to pay back the entire amount even if it takes 15 to 20 years. However, although creditors are not obliged to freeze interest and charges, we have been successful in negotiating this with over 90% of our cases, which ensures that the overall debt does not increase.

A DMP is not listed on any public records. You are free to apply for personal credit, mortgages and overdrafts. You have no legal obligation to inform anyone about your DMP. Your financial affairs remain private. Repayments are realistic, based on your earnings and expenses.

We can assess your unique debt situation and draft a DMP which is perfectly suited to your needs. We will negotiate with your creditors to freeze interest rates and other charges and settle for a realistic monthly repayment that you can easily afford. We will then expertly manage your DMP on your behalf for its entire term.

What are the benefits of a DMP?

Still not sure if an DMP is the right option? Review the benefits of Debt Survival setting up your Debt Management Plan, to see what impact it could have on your life today!