Debt Management Plan (DMP)

People can often find themselves in difficulty maintaining payments towards their credit cards and loans etc after essential expenditure and priority debts are accounted for. If you have problems maintaining payments towards credit cards, catalogues, loans and other non-priority creditors then a Debt Management Plan could be a suitable long or short term solution / option.

A Debt Management Plan is an informal arrangement where after payments for essential living costs and arrangements have been made with priority creditors, you make reduced, pro-rata or token offers to non-priority debts out of any available disposable income (all creditors should be treated the same)

Some Advantages

Some Disadvantages

Information on Debt Collection, Debt Management, Harassment, Complaints etc.

Starting a DMP

If a Debt Management Plan is the right solution, then there are various options:

What do I do next?

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