Everything You Need to Know About Your DMP



I’ve made my first payment, what happens now?

We’ve sent your creditors their pro-rata share of your payment. This means that the creditor who you owe the most to receives a larger payment than those you owe less to.

It’s worth knowing that we’ve sent these proposed payments to each of your creditors, and normally they’ll agree to freeze your interest and charges while you’re in the DMP.

We’ll let you know when we’ve heard back from them and what their response is (whether they’ve accepted the offer or not, and whether they’re happy to freeze interest and charges).

In a few weeks, we’ll send you an update containing all the responses we’ve received so far. Please note, some creditors may not have responded at this time, but that’s perfectly normal.

You can log in to PayPlan Plus (www.payplanplus.com) at any time to keep track of the status of your offers too.

Can I manage my DMP online?

It’s easy to manage your DMP online. If you haven’t already created your online account, visit www.payplanplus.com to get started.

You can use your PayPlan Plus account to:

  • Make fast and secure payments using Pay by Bank or a Debit Card.
  • Send messages or photos of letters or documents.
  • Look at your budget.
  • Stay in control of your payments and keep track of what you’ve paid so far.
  • Check and update your details.
  • Find helpful information and answers to your questions.
  • Complete Progress Reviews and let us know about any changes in your circumstances.

Will my creditors still contact me?

For the next few months, you’ll probably still receive some contact from the creditors included in your DMP. It can take some time for them to update their systems, and most of what you receive will be automated.

What type of contact will I get?
Legally, your creditors need to keep you updated on your accounts. This means that there are a few things they must do:

  • You’ll receive an annual statement from them every year.
  • They’ll inform you if they apply a default to your account.
  • They’ll need to let you know if they pass on or sell your account to another company.

What do I need to do if a creditor contacts me whilst I’m in my DMP?
​Remember that we’re here to deal with them for you. Don’t ignore your creditors if they call or write to you, instead:

  • Remind them that you’re in a plan and give them your PayPlan ID. You can find your PayPlan ID number at the top of anything we send you.
  • Let us know if you receive anything that worries you. We’ll explain what it means and let you know if there’s anything you need to do. You can check out some of the different types of letters you may receive and what they mean here.
  • Email copies of any letters or emails you receive to client.liason@payplan.com if they say that your debt has been sold or passed onto another company, or are threatening to take legal action against you.

How will a DMP affect my credit score?

By starting your DMP, you’ve already taken the first step to repairing your credit score in the long term. In your plan, you’ll be making one affordable monthly payment, which is split fairly between those you owe money to.

They payment is split pro-rata, so the creditor you owe the most to receives a larger share than those you owe less to.

The payment they receive will be less than the amount you originally agreed with them. When you do this, they’ll make a note of this on your credit report, and, they’ll send a default notice letter, which cancels your original agreement.

Anything short of maintaining your normal agreed monthly payments will negatively impact your credit score. So, if you’ve already paid less or missed payments, your credit score has probably already been affected by your debts.

Any markers, notes or notices that your creditors apply to your accounts will show on your credit report for six years from the date of issue.

It’s important to remember that you’re taking positive steps to take back control of your finances.

How can I clear my debts faster?

If you inherit, gain, or win a lump sum of money, let us know as soon as possible! You might be able to use it to settle some or all of your debts.

Remember to get in touch if you’ve got a lump sum available or receive a letter from your creditors with settlement discounts. Our specialist Settlements team are here to support you through the process – there are no hidden fees, and it’s completely free!

They’ll advise you on the different types of settlements and negotiate with your creditors on your behalf.

Why do I need to complete a Progress Review whilst in my plan?

You need to complete a review of your plan every year or whenever something changes. We’ll let you know when it’s due, but if something happens before then, get in touch.

When you complete your review, we’ll make sure:

  • Your payments are affordable.
  • You’re still in the best solution for your circumstances.
  • Your details are up-to-date.
  • Your creditors have up-to-date information and know that you’re on track.

You can complete your review over the phone or on PayPlan Plus. If you complete it online, we’ll contact you if we have any questions, talk to you about your plan, or discuss other options that could help you become debt-free faster.

Important things to remember about your Progress Review:

  • If you don’t complete a review, your plan will likely be disrupted, and it will be more difficult to pay off your debts.
  • Your payment needs to remain affordable – we’ll never ask you to pay more than you can afford.
  • If you increase your payments, you’ll finish your plan faster.
  • If you reduce your payments, it’ll take you longer to finish your plan.

How can I get in touch with the DMP team?

  • Start a conversation with us on WhatsApp
  • Chat to us on Live Chat
  • Send a message on PayPlan Plus
  • Call us on 0800 316 7155

Our offices are open Monday to Thursday 8am to 7pm and Friday 8am to 5pm.