What is a debt Management Plan?
A Debt Management Plan (DMP) is an informal arrangement between you and your unsecured creditors, administered by a licensed Debt Management company.
How does a DMP work?
A debt adviser works out a payment offer on behalf of you to your creditors, leaving you sufficient funds to live on.
Is a Debt Management Plan for Me?
If you're struggling to pay off debt, a DMP via DPSP could help you:
- Get confidential professional advice
- Make one affordable monthly payment
- Have enough money to live on
- Provide you with a team of experts who can deal with creditors on your behalf
- Aim to reach an agreement to reduce further charges from creditors
To apply click here
DMP may be the solution if you have:
- Multiple debts
- Mortgage, rent, council tax or utility bill arrears
- CCJs against you
- Been threatened by court action or a bailiff visit
- Debt from credit cards, loans, overdrafts or mail order catalogues
A Debt Management Plan is tailored to suit your needs and circumstances, and may be used in the long or short term.
Other Notes:
The initial advice that we offer is free and is provided by a skilled debt advisor, however the advice provided is not impartial and in many cases may lead to a fee charging service such as debt management. You will always be notified of any fees in advance in pre-sales contractual information and in our terms of business, but to ensure you are fully aware before you actually contact DPSP, please see below the section of Debt Management Fees copied from our terms of business.
8.2 Debt Management Plan (DMP) clauses 8.2, 8.3; On instruction we will confirm Our Professionals terms of business with you. They will charge you an initial fee as mutually agreed in advance for any work undertaken. This fee will cover the cost of settling up your Management Account and will equal as agreed two monthly payments within the DMP e.g You enter into a DMP at £100 per month, this means that your initial fee (paid to Our Professionals) will be £100 x 2 months = £200. This initial fee is payable over the first 2 monthly payments and will not be paid to any of your Creditors.
8.3 In each month during the Period You will pay to Our Professional a monthly management fee, this may vary depending on your circumstances and requirements. The management charge is capped at £39.95 inclusive of VAT. This is additional to the initial fee (see clause 8.2) (This excludes any court costs).
DPSP - 65 Heath Gap Road, Cannock, Staffs WS11 6DY. Tel: 01543 462 357 Fax: 0844 2250713 Text: 07540 685832 Web: www.dpsp.co.uk CLR PR Ltd – T/A Debt & Property Solutions Plus (DPSP). Consumer Credit Licence No: 620631. Data Protection Licence No: Z1426079. Debt & Property Solutions Plus Ltd (DPSP). Ministry of Justice Registration No: CRM21101. Data Protection Licence No: Z2430403
