Pay Off Your Debt in England
What is a debt management plan (DMP)?
Find out more about the Debt Management Plan (DMP) and which debts it covers. Talk to our financial advisor for debt management to find out which is the best way to clear your debts.
How does a Debt Management Plan work?
A debt management plan is designed to handle your debts and repay them off at a lower monthly payment to your creditors. Your payments are designed on what you can afford. This is planned as per your monthly budget and accordingly, the payments are done for a longer period of time. These payments are also flexible, and the amount is changed as per the need of the situation. Although, it also depends on your creditors, if they agree to lower repay amounts.
We guide you and assist you to plan the debt repayment in a way that is affordable for you. You can avail of our various free debt management plans to meet your need.
Which debts can you pay off with DMP?
Although, not all debts can be included under the DMP as it mostly covers the non-priority debts for you, yet there are several debts that come under DMP.
- Personal loans
- Credit card debt
- Bank/building society loans
- Payday loans
- Store cards/credit
- Money borrowed from friends/family
Which debts can’t you pay off with DMP?
You can’t use DMP to pay off the following debts:
- Council Tax
- Income tax
- Court fines
- National Insurance
- Hire purchase contracts for essential items
- Child support or maintenance
- TV License
- Utility bills
Need to talk to a financial advisor for debt management?
If you are struggling to manage your debts, you can talk to an expert today either online or face to face or through telephonic calls. We have specially trained financial advisor for debt management to give you free debt management advice.
Find free, confidential advice now using our free debt management plan.