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Debt Management Plans

A DMP is an arrangement between you and your creditors which we manage for you. You repay your debts at a rate you can afford and we help remove the stress by dealing with your creditors. Payplan does not charge fees for debt management plans.

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No set-up costs or monthly fees - unlike some debt management companies who charge an initial set-up fee in addition to a monthly fee, Payplan does not charge fees for debt management plans.

Comparedebt management fees*

Debt Management Company
Initial Fee
Monthly Charge
Min/Max Monthly Fee
PayPlan
FREE
FREE
FREE
Harrington Brooks
Yes
17.6%
£35 - £100
Debt Free Direct
Yes
17.5%
£30 - £100
Chiltern
Yes
17.5%
£30 - £100
Gregory Pennington
Yes
18.5%
£38 - £90

*Charges are made by these other debt management companies for the arrangement of a Debt Management Plan (information correct as of 13th January 2014). At Payplan we don't charge our clients any fees for arranging a DMP, so more of your payment to Payplan goes towards paying your debts. Free debt counselling, debt adjusting and providing of credit information services is available by contacting the Money Advice Service.

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The Benefits

A single affordable monthly or weekly payment - made at the most convenient time for you (eg just after you have been paid), which allows Payplan to pay all of your unsecured creditors.

Helpful, friendly and knowledgeable staff to assist you with any problems or worries. Many of our staff have experienced debt problems themselves so they handle your enquiry with genuine empathy and understanding.

Online payment tracking – once you begin payments into a debt management plan, you will be able to view your payment history on PayplanPlus it is completely free and allows you to view all payments made to your debt management plan, the pro-rata payments made to each of your creditors – even get an estimate of when you will be debt-free.

The best possible chance of freezing interest and charges – while we cannot guarantee to get interest and charges frozen, we do have excellent relationships with a majority of the credit industry who recognise just how beneficial our service is.

People get into debt for a number of reasons

In most cases it is not because they have been reckless or even careless but it is often the result of a change of circumstances such as: loss of income through job changes, divorce or separation, illness and other life changing events. Most of our clients contact us after attempting to keep up the repayments for a long period, but without success.

There usually comes a point when they realise that they have to take some drastic action or they will never see an end to the phone calls and letters from the people they owe money to. Their debts are often increasing on a daily basis with added interest and charges and their payments are not actually reducing the balance.

A debt management plan will put you back into control without borrowing more money (experience shows that this can just make things worse). With only one payment to make and a realistic chance of getting your interest and charges frozen and no fees taken out, your debts will be repaid as quickly as possible.

Help with Debt Management

Payplan provides expert, impartial & confidential advice & debt solutions that are FREE to our clients.

Debt help requestit's simple, so lets get started



In debt?You're not alone!

Debt is a big worry for many people, as you'll see on our unique UK Debt Map. See how many people Payplan helped near you this year.

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Example IVA

In this typical example, we arranged an IVA for our client who was struggling to repay his debts. His payments are now more affordable!

  • Debt: £20,000
  • Creditors: 3
  • Was paying: £520 per month
  • Now paying: £120 per month
  • Written off: £12,000
View all examples

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