What is a Debt Management Plan?
A Debt Management Plan or DMP is what it says on the tin – a plan agreed with your creditors to repay your debts over a period of time by making regular, usually monthly, payments until all of your debts are cleared. Continue reading
There are a huge number of people in Debt Management Plans in the UK. Many of them have varied circumstances as to why they are in Debt Management over other solutions. Some may be solvent but to pay off their debts in full in accordance with the terms on which they borrowed the money in the first place they would have to dispose of some of their assets such as a house, and many of them are not prepared to do this. Continue reading
A Debt Management Plan is one of a number of ways of reducing the amount of money you owe to your creditors. It’s relatively easy to set up and it’s quite an informal way to address your debts in a simple yet structured way. Continue reading