Benefits of a DPP
- A DPP lets you repay your debts at an affordable rate, while still leaving you enough money for household bills and living costs
- All interest or charges that are being applied to your debts will be frozen at the point when you apply for your DPP
- Your creditors can’t contact you or take any further legal action against you
- If your situation changes you can apply to vary your payment or apply for a payment break, although the term of the break will be added to the DPP
- Once your DPP is complete, your debts will be paid in full
Once your DPP is approved, 22% of your payment is taken as fees to cover the running costs. This doesn’t impact you negatively – so if you're paying a creditor £100 your debt will be reduced by £100.