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EMPLOYEE
I’m
in need of help
What is a DMP? I know it stands for Debt Management Plan but I'm not sure how it can help me.
Official
Response
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A Debt Management Plan is an informal arrangement between you and your creditors, negotiated by us on your behalf. We will work closely with you to collate the details of your debts, income and outgoings, and provide proof to your creditors that you can't afford the current repayment levels.
Further to discussions with your creditors, we will then agree a single affordable payment to us, which we distribute fairly to your creditors.
The new payment is will depend on your individual circumstances and will be set at a level you can afford to maintain.
EMPLOYEE
-
A Debt Management Plan is an informal arrangement between you and your creditors, negotiated by us on your behalf. We will work closely with you to collate the details of your debts, income and outgoings, and provide proof to your creditors that you can't afford the current repayment levels.
Further to discussions with your creditors, we will then agree a single affordable payment to us, which we distribute fairly to your creditors.
The new payment is will depend on your individual circumstances and will be set at a level you can afford to maintain.
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