While you could set up a DMP yourself, PayPlan takes the headache of this away because a DMP with PayPlan is FREE to set up and all payments are also administered for FREE, ensuring all of your payment goes towards getting you out of debt.
As an example, imagine Mr X had a debt of £8,474. Following a full assessment of his income and priority payments each month such as his mortgage, vehicle hire purchase payment, household bills and food expenses, PayPlan established that Mr X can comfortably afford a monthly payment of £153 per month. The table below shows how the payment to each of his creditors is calculated:
|Creditor||Amount of debt||% of overall debt||Amount of DMP payment received|
If you choose PayPlan for your DMP , you pay your agreed DMP payment each month to us, and we will distribute this free of charge to your creditors.
PayPlan has helped over a million people become debt free. While every case is different, the chart below shows the significant difference that managing their debts through a DMP has made to four genuine PayPlan clients.
Speak to our friendly, impartial advisors now for FREE on 0808 250 9543 to receive expert advice on which debt solution is best for your specific circumstances. Alternatively, fill in our simple online form and we will call you back.