Debt Management Plan (DMP)
Information about the most popular debt solutions
Debt Management Plan (DMP) is an informal agreement with the people you owe money to (a creditor) to help you repay your debts in full with a reduced monthly payment over an extended period of time.
DMPs are provided by debt management companies and charitable organisations who negotiate with your creditors to lower your monthly repayments and freeze/lower interest and charges. Commercial companies usually charge a fee for this service, but you can seek independent help and advice from a charitable organisation.
Advantages of a Debt Management Plan
Disadvantages of a Debt Management Plan
Frances – Reviews
They took care of everything. Very professional.
Julie – Reviews
When I contacted M1 I was in a really difficult place and their efficient, considerate handling of my situation was quite simply amazing.
Susan – Reviews
Amazing helpful people.
Jayde – Reviews
Right from the beginning I felt reassured and confident he would be able to help me.
Paul – Reviews
The process was simple from start to finish and all the leg work was done by M1 Debt Solutions so I never had to stress out trying to make contact with all the companies I owed to.
Nadine – Reviews
They were great from start to finish. I'm so happy with this service. Thank you very much.
Tracy – Reviews
They dealt with my case very efficiently. They were very helpful and got me out of trouble with my debt and the horrible bailiffs!
Tim – Reviews
Very professional. Very understanding and non judgemental.
Cara – Reviews
Now I can be financially free quicker and can move on without all the hassle from my creditors.
Debt Management Plan
Updated on 2019-07-04T14:04:35+01:00, by .