Debt management Plan Help and Advice from Local leading Experts Debt management Plan Help and Advice from Local leading Experts
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What is a Debt Management Plan



A debt management plan is an informal arrangement set up between you and your creditors where you pay after considering your household bills. If you’re struggling with things like credit cards, loans and store cards then a debt management plan (DMP) may be right for you.

It sets out how much you will repay and a timetable for repayment. Often you will pay a debt management organisation and they in turn will pay the creditors which means you no longer have to deal with the creditors yourself directly.

You cannot include priority debts in a debt management plan and these include:

  • Rent and Mortgage repayments
  • Gas and Electricity repayments
  • TV License 
  • Child Maintenance Payments
  • Rates Payments 

Priority debts are named as such due to the consequences of not paying them. Not paying this type of debt can be more serious than other debts, so it is important that you have a way of dealing with them particularly as they cannot be part of the DMP.

Debt Management Plans often involve one set monthly payment which is then divided by your creditors.

A Debt management plan is the best option when the following applies to your circumstances:

  • You’d like someone to deal with creditors on your behalf.
  • One fixed monthly payment will help with setting a budget. 
  • You can afford your living costs and repayments on your priority debts but you’re struggling to keep up repayments on your credit cards and loans.

If you’re struggling with credit card, store card and loan repayments then a debt management plan may be the best solution for you? Find out by taking our free online assessment or call us on 02890 393 626 and the experts at Get Help with Debt will be able help put the best solution in place for your situation.

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