A Debt Management Plan, more commonly recognised as a DMP, is an informal solution designed to reduce the monthly overall payments towards your debts.
There are a number of financial products in place that may alleviate the stress of financial worry you are experiencing. Our experts at Personal Debt support will talk you through all of your options to come up with the best debt solution for you. When you feel like you have nowhere to turn to, stress can become overwhelming. That’s why we can offer a range of financial products like a DMP, to help you get back on track and managing your debt efficiently.
There is no maximum or minimum level of debt you need to be able to apply for a DMP. However, there are always things to take into consideration before accepting that this is the right offer for you.
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No. A DMP is a payment arrangement that’s based on the amount of money you have left over after your household bills and living expenses are covered.
You can stop your DMP at any time, and you don’t have to make a legal commitment when starting a DMP.
Every debt that’s been included in your DMP can have a ‘payment arrangement’ note added to it.