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What to do if your DMP company has closed

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It can be confusing when your debt management plan (DMP) company closes. You may be wondering if you can carry on with your plan.

Reasons a debt management firm can close include:

You debt solution may end if your DMP company closes.

Money Helper recommends you seek free debt advice right away.

We are the UK’s leading debt charity. We offer advice and solutions for your needs. We will support you as you aim to become debt free.

Is a DMP right for you?

Use our free online debt advice tool to find out more.

Get debt help now

What's next? Three steps to debt help

  1. Gather the latest details about your finances. Things like: Your income, household bills, living costs and debts
  2. Enter these details into our online debt advice tool to get: Practical advice, a personal action plan made for you and recommended debt solutions
  3. Read your personal action plan. This recommends: The best way to deal with your debts and the next steps you need to take

Common questions about moving your DMP to us

All debt management providers must apply to the FCA for “authorisation”. This makes sure you are treated fairly.

They operate with “interim permission” while they wait. This means they can work as normal until they get full authorisation.

Some firms know their application for full authorisation is likely to be refused. This could happen if:

  • They do not have appropriate systems and controls in place
  • People are being advised to enter unsuitable debt solutions

The company has to stop trading if the FCA denies their application. This means their DMPs stop.

The FCA can put you in touch with the people overseeing the process if the company you work with goes into administration.

You can contact the FCA on:

  • 0800 111 6768 (Freephone) or,
  • 0300 500 8082 (charged at a local rate for mobile phone users)
  • Press '2' to get to the right people

People do switch their DMPs to us. But first we will need to check that a DMP really is the right solution for you.

We will do a full review of your budget to make sure you get the right help for your situation.

Find out more about how we can help you

The budget you make with us covers your living expenses and priority bills. These are things like your:

  • Rent
  • Council tax
  • Utilities

Then we look at what you need to pay towards your debts.

Once we have a full understanding of your situation, we can tell you which solutions are best for you.

We may not recommend a debt management plan (DMP) like you had before if:

  • Your DMP does not cover living expenses
  • Your DMP does not include everyone you owe money to
  • A DMP is not be the best solution for your situation

We have helped millions of people over the last 30 years.

We always:

  • Explain our recommendations and
  • Answer any question you have

Carol on Feefo says:

"Highly recommended!"

"Support to organise my finances to enable disposable funds to be allocated to debt repayment. Easy to use, breathing space during the initial process, and peace of mind long term."

Get help like Carol

Why choose us?

We help hundreds of thousands of people a year across the UK to get their lives back on track.

Debt happens. We deal with it.

We have helped millions of people since 1993.

Find out how.

"Absolutely brilliant service"

"Brilliant all round service from StepChange, takes away all your worries and anxiety, well recommended for anyone struggling financially."

Debra, Feefo Review

Online debt advice

Use our free online debt advice tool to get tailored advice and debt solutions in around 20 minutes.

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