Debt Management

• A DMP is an affordable repayment programme that can be set up and managed for you.
• A flexible solution to sort out your finances and calculate what you can afford to pay each month.
• All interest and charges are requested to be frozen.
• You pay this amount through the DMP.
• The debt management company pays your money to all your creditors (the companies you owe money to) for you.
• A DMP is not any form of consolidation loan and will not get you any further into debt – it is simply there to consolidate your debt without lending you additional funds.

• If you have £5,000 worth of debts or more.
• If you have at least two or more debts with either the same or different creditors.
• If you have £100 or more available income per month (after you have paid all your normal household bills).

• The first thing you need to do is put together a personal budget which identifies the total household income.
• Then list all the mandatory expenses like rent, mortgage, household bills, food, travel, child care etc.
• Take the second figure from the first.
• What you have left over is your disposable income to pay your credit debts.

A DMP through National Debt Advice is the best solution for people who can afford to make regular payments to creditors in an easy and hassle-free way. We will assist with all options to help you make the best decisions for your lifestyle.

• Combine all your unsecured debts into a single monthly payment based on your circumstances.
• Depending upon the outcome of negotiation with your creditors, reduce or freeze interest and charges on what you owe.
• Give you someone who understands and has a good relationship with the creditors who can deal with them on your behalf.
• Put a stop to all stressful demand letters and telephone calls from creditors.
• Put you back in control of your finances so you know where your money is going each month.

• Extend your payments over a longer term in some cases.
• Not always result in the reduction of interest or charges for every creditor.
• Not necessarily stop all correspondence or phone calls from creditors.
• Not cover any debt secured on assets or tax arrears.

National Debt Advice uses trained advisors to give Debt Management advice and recommend the most appropriate debt management programme for your needs – whether that is a Debt Management Plan or another solution. If you are interested in a Debt Management Plan or any other debt related issues, please take a few seconds to fill out the simple enquiry form on this page.