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Considering a DMP?

We can help with free, impartial debt advice online now.

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How do I get a DMP?

Where can I get a free debt management plan?

A debt management plan (DMP) is a payment plan arranged with the people you owe. As a charity we offer free DMPs. Some debt management companies charge for them.

A debt management plan is usually arranged for you by a third party provider. Such as a debt charity or debt management company.

We can look at your situation and help you work out a budget. This will show if a DMP is the right solution for you.

We can arrange a free DMP if it is right for you. There are no hidden charges.

A DMP works like this:

  1. You make a single monthly payment to the DMP provider
  2. They contact all the people you owe
  3. They send each of them a share of your monthly payment

Keep up to date with your DMP online. We send you a monthly statement showing how much you paid to each of the people you owe.

mum at the table with bills

Considering a DMP?

We can help with free, impartial debt advice online now.

Get debt help

What are the benefits of a free DMP?

  • Your full payment goes toward paying off your debts
  • This means it takes less time to become debt free

All DMPs work in the same way. There are no extra benefits or protection by choosing a DMP with fees.

Whether you choose a free or fee-charging DMP, you need to consider:

  • How a DMP could affect your credit rating
  • How much debt you have to repay
  • How long it will take to repay

Use our free online debt advice tool to find out if a DMP is right for you.

What are DMP fees paying for?

The fees you pay a fee-charging DMP provider cover the costs of:

  • Setting up your plan
  • Dealing with your monthly payments
  • Providing you with statements
  • Reviewing your plan

A non-profit DMP provider does all of these things for free.

The fees charged by for-profit DMP providers vary. They are typically around 17% of your monthly payment.

Before you start a DMP with a company that charges you, make sure you:

  • Find out what you are paying for
  • Work out how much of your monthly payment will go towards your debts

Can I switch to a free DMP?

You should be able to switch to a free DMP if you are paying for one now.

Check the agreement with your current provider to see if there are any charges or a notice period involved with moving.

We need to look at your situation to make sure a DMP is the best solution for you. We can set one up for free if it is right for you.

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