DMP - Debt Management Plan Articles

  1. What is a Debt Management Plan?

    A DMP is an informal but structured plan allowing a debtor to repay their unsecured debts in a managed way. Occasionally, debtors are able to come to repayment...

  2. What is the length of a Debt Management Plan?

    The length of a DMP will depend on a number of factors including size of repayment relative to amount of debt, and any changes of circumstances along...

  3. Why would creditors agree to a Debt Management Plan?

    Creditors are not going to accept reduced payments without good reason. A debtor who phones up a creditor and asks for reduced terms and frozen interest is unlikely to...

  4. Alternatives to a Debt Management Plan

    This article explores possible solutions to debts that don't involve the setting up of a Debt Management Plan...

  5. How do I start a Debt Management Plan?

    It is possible to make some arrangement with creditors directly in order to repay your debt, but generally DMP's refer to managed plans by companies that...

  6. How does a Debt Management Plan work?

    This article explores the circumstances in which a Debt Management Plan (DMP) may be advisable and the practical implications of starting one...

  7. Is my house safe in DMP?

    For homeowners, the question of the safeguard of their property is of paramount concern, and this article seeks to explore risks and safeguards involved when debtors enter a DMP...

  8. The flexibility of a Debt Management Plan

    One of the real benefits of a DMP is its flexibility. Unlike an IVA or bankruptcy, a DMP allows the debtor more freedom to...

  9. What are the benefits of a Debt Management Plan?

    A DMP is an informal (I.e. not legally binding) debt solution that enables debtors to repay their debt through a managed plan at an affordable rate. There are a number of features of DMP's that are likely to prove...

  10. What are the drawbacks of a Debt Management Plan?

    This article explores the potential disadvantages / drawbacks that a DMP can bring...