Paying an amount to your DMP that you can’t afford would end up causing bigger problems in the long term, as you would find it difficult to cover your essential living costs.
My income has increased. Do I need to pay more to my DMP?
A pay rise is usually good news. If your income has gone up, we’ll make sure this is reflected in your budget. If you can afford to increase your DMP payments, this means you’ll be able to pay off your debts faster.
But this might not always be the case if your living costs have changed. For example, your income may have gone up but bills, travel costs or other household expenses may have increased as well. This is why it’s important to look at your whole situation when reviewing your budget. We’ll never ask you to increase your DMP payments if you can’t afford to.
While we always consider a pay increase on an individual basis, here are some general suggestions for anyone on a DMP who find themselves earning a bit more, or receive a lump sum of money. It’s always best you contact us so we can talk you through the best options for your situation: