A DMP with PayPlan – Reduce your monthly repayments with a free DMP
A Debt Management Plan (DMP) is an effective debt solution that reduces the amount you pay towards your debts each month.
Our Debt Management Plans are completely free; there’s no cost for setting your plan up and no hidden charges to keep your plan going. All the money you pay goes towards your debts, and you’ll make one single, affordable monthly payment.
Before setting up your DMP, we’ll review your budget to ensure your monthly payments are affordable and you have enough money left over to live comfortably.
Benefits of a DMP
- You’ll be making an affordable monthly payment towards your debts
- A DMP with us is completely free – all of the money you pay will go towards paying off your debts.
- Less hassle – you’ll only have to make one payment towards your debts. We’ll then split this fairly between all of the creditors included in your plan.
- A DMP is not legally binding. So, you have some flexibility to change your monthly payments if something happens that affects your budget.
- Taking steps to pay your debts back through a DMP could improve your credit rating in the long-term.
Things to be aware of
- You’ll still receive some contact from the creditors included in your plan. You may receive automated communications or things they have to send you.
- Whilst your creditors will likely agree to freeze interest and charges, we can’t guarantee they will.
- Your creditors can still take court action against you whilst you’re in a DMP, but it’s unlikely this will happen. If it were to happen, we’d be here to support you through the process.
- If your creditors issue default notices while in a DMP, these will stay on your credit file for six years.
How can I apply for a DMP?
We’ll start by making sure that a DMP is the best debt solution for your circumstances. You can use our free online debt solution tool or call us and speak to one of our specialists on 0800 316 1833, WhatsApp or Live Chat. Our debt advice is completely FREE.
Once we’ve agreed on an affordable monthly payment, we’ll begin setting up your DMP. After your plan’s been set up, we’ll distribute your new payments fairly between the companies you owe money to.
You can review your plan anytime; if something changes, you can adjust your payment. If you can increase your payment, you can become debt-free quicker. If you need to reduce your payment, it could take longer to finish your plan.
See how our debt management plans compare to other providers.
DMPs are available in England, Wales, Scotland and Northern Ireland
Visit our FAQs to find out more about DMPs.
Find out if a DMP is the best way for you to clear your accounts today
Get in touch to see if a DMP is a suitable solution for you. Our experienced advisers are here to help you find the right solution for your circumstances. Call us on 0800 316 1833, or message us on WhatsApp or Live Chat. Our opening hours are 8am to 8pm Monday to Friday, 9am to 3pm on Saturday. Alternatively, complete our enquiry form, and we will contact you as soon as possible.