Debt Management Plan (DMPs)

What is a Debt Management Plan?

A Debt Management Plan is an agreement that is made between you and your creditors to help control and pay all your debts.

Debt management plans are usually used when either:

- you can only afford to pay creditors a small amount each month.
-you have debt problems but will be able to make repayments in a few months.

You can arrange a plan with your creditors yourself or through a licensed debt management company for a fee. If you arrange this with a company: you make regular payments to the company. The company shares the money out between your creditors.


  • One affordable payment to the DMP company – if you use a licenced debt management company.
  • Flexible – payment can move, increase or decrease depending on circumstances.
  • Creditors may agree to reduce payments and freeze interest and charges, but are not obliged to.
  • Certain charities and organisations will do this free of charge, you can contact the MAS for more information.


  • Your debt is not fully written off unlike an IVA, Trust Deed, or Bankruptcy
  • Only interest and charges can be frozen, but there is no guarantee
  • We cannot provide any legal protection from your creditors
  • It could take many years to fully pay off your debts as you will be making lower monthly payments
  • It will affect your credit rating

Which Debts Can I Pay With a DMP?

Debt Management Plan is a debt solution that primarily covers non-priority debts. These include:

  • Your Overdrafts
  • Your Personal Loans
  • Money You Borrowed from Friends and Family
  • Bank or Building Society Loans
  • Credit Card, Store Card and Payday Loans
  • Catalogue, Home Credit or Store Credit Debts

Speak to a debt advisor today
0333 344 1617
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