Debt Management Plan (DMP)

A Debt Management Plan (DMP) helps you manage your debts and pay them off at a more affordable rate by reducing monthly payments. If you feel a DMP is the best option, a DMP can be administered fee-free from StepChange Debt Charity.

A DMP can be an excellent way to repay if you are struggling, and the debts can be cleared within a reasonable timescale on a reduced payment structure.

Free and impartial money advice is available from the Money Helper, an organisation set up by the Government for people in debt.

To learn more about managing debt and receiving free, impartial debt advice, visit Money Helper or read about options for paying off your debt

Debt Management Plan

Debt Management Plan DMP
A Debt Management Plan (DMP) is an informal agreement between you and those you owe. Unlike other options, a DMP is not legally-binding, and it is, therefore, essential to remember that your creditors are not obliged to agree to your proposal.

Benefits of the Debt Management Plan (DMP):

  • Debt management is an informal arrangement that avoids the need for formal insolvency procedures such as an IVA or bankruptcy.
  • By reaching an agreement with your creditors a DMP may suspend actions against you such as CCJs (County Court Judgments).
  • Creditors will, in many cases, freeze interest payments.
  • Your monthly debt repayments may be reduced.


  • The arrangements are informal. Your creditors can change their mind at any time.
  • Your credit rating may be negatively impacted.
  • While such arrangements reduce your monthly repayments to make them affordable it usually means you will pay more in total over a much longer period.
  • Interest will usually continue to be charged on your debts, particularly on your arrears which may be charged at higher rates than your original loan rate.
  • Unless your debts are less serious you could end up in debt for a very long time. In the worst case, you may find you have no real prospect of getting out of debt and becoming debt free.
  • Delayed or missed payments will cause you to go further into arrears with your creditors and may lead to your debts increasing and creditors taking further action to recover the sums owed to them.

Scroll down for a list of Frequently Asked Questions.

Apply Online

Start planning a future free of unsecured debt


Check if you qualify

Complete the form to see if you qualify for an IVA.



A friendly & non-judgemental advisor will call to discuss your circumstances.


You decide

They will explain all your options so that you can decide which solution works best for you!

Types Of Debts We Help With

2023 Central Bedfordshire Council Tax Arrears


Store Cards

Bankruptcy Vs IVA

Payday Loans

How long to repay a credit card

Credit Cards



Council Tax

Central Bedfordshire Council Tax Support


Utility Bills

Frequently Asked Questions

A DMP is an informal agreement between you and your creditors to pay all your debts. There is no fixed duration, and you will continue to make payments until all debts are paid in full- there is no debt forgiveness.

To learn more about managing debt and receiving free, impartial debt advice, visit Money Helper or read about options for paying off your debt