Sometimes your circumstances mean it can be difficult to make any sort of payment towards your debts. A token payment plan (TPP) could be the temporary support you need to get your situation back on track. With a TPP you pay £1 a month to each of your creditors until your situation improves enough so you can pay them more.
Other debt management companies offer token payment plans, but may charge a fee. Our TPPs have no set-up charges or monthly fees.
Is a TPP suitable for me?
A TPP is a temporary plan. We can only set one up if your income is only just covering the payments towards your household bills (so you've got nothing left over at the end of each month) and your situation is going to improve within the next 12 months.
We may also recommend a TPP in exceptional circumstances, even when your situation isn’t likely to improve. Your situation could be improving because:
- You have a payment that is due to finish, which will free up money in your budget. This could be paying off arrears on your rent or mortgage, or finishing a hire purchase agreement
- Your situation will change, for example if you’re selling your home or you’ll return to work after maternity leave