Can a DMP protect your assets?

DMPs only reduce the payments on your unsecured debts. Your mortgage and other debts secured against your property, such as a vehicle on finance, are not included.

An affordable monthly payment amount that takes into account all of your other debts such as your mortgage is calculated by your DMP provider based on your specific circumstances. This will allow you to pay the debts secured against your property first, reducing the likelihood of putting your home or other assets at risk.

Your creditors have no automatic claim on your property or assets once you have put a DMP in place. However, as the plan is based on good will, there is nothing to stop your creditors attempting to secure their debt against your home, for example by pursuing a County Court Judgment (CCJ) and then a Charging Order against your property.


It is unusual for creditors to take this course of action (particularly if you keep up the payments agreed within your DMP) but it is possible. If you have reason to believe that your creditors are considering this course of action, please contact PayPlan for advice immediately by calling FREE on 0800 280 2816 from 8am to 8pm Monday to Friday, and 9am to 3pm on Saturday, or complete our online enquiry form and we will get in touch.

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