How your DMP payment is worked out

The amount you pay into your Debt Management Plan each month is worked out from your budget and affordability.

We’ll review your income and expenditure with you to understand how much money you have coming in and where it goes. To figure out how much your payment will be, you simply need to subtract everything you pay for, excluding the amount you pay towards your unsecured debts, from your income.

Your budget will include all of your priority debts and household costs. Secured debts and priority debts aren’t included in your plan, you’ll need to keep up with payments to these.

The leftover amount is what you’ll pay as one affordable monthly payment to the companies you owe money to instead of individual payments. We’ll distribute it fairly between the companies you owe money to.

You should always have enough money to cover your essential costs and secured debts. While you’re in a DMP, your plan should be affordable and give you peace of mind that you’re making payments to the companies you owe money to, so that you can become debt free.

To see how we can help you make life more affordable and to find out more about the options available to you, call us on 0800 316 1833 or get in touch online.