Manage your debt with a debt management plan
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What is a debt management plan?
A Debt Management Plan (DMP) is an informal agreement with your creditors to repay your debts at an affordable rate.
A DMP may be right for you if:
• You can pay something, but not the full amount
• You need temporary relief from full repayments
• You prefer an informal, non-binding solution
With a DMP, payments drop to a level you can afford while you work towards becoming debt-free.
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Benefits of a Debt
Management Plan (DMP)
A Debt Management Plan (DMP) can help you take back control of your finances and make debt repayment more manageable. Here’s how a DMP can benefit you:
One Affordable Monthly Payment
Instead of juggling multiple creditors, you’ll make one simple monthly payment to your debt management provider, who will then distribute it to your lenders.
Flexible Payments if Your Situation Changes
If your income goes up or down, the amount you pay into your DMP can be adjusted, helping you stay on track without unnecessary stress.
Freeze or Reduce Interest and Charges
Creditors may agree to freeze interest rates and stop additional charges, making it easier for your payments to reduce the balance you owe.
Free Help Available
All interest and penalty fees are frozen immediately once your IVA is in place, preventing your debt from spiralling.
No Need to Deal with Creditors Directly
Our DMP provider will negotiate with lenders on your behalf, saving you the stress and pressure of dealing with collection calls and letters.
Short-Term or Long-Term Solution
A DMP can be used as a temporary fix if you just need breathing space, or as a longer-term plan to clear your unsecured debts at a pace you can afford.
Take back control of your debt
Customer feedback
I was at my wits end dealing with all my debts when I got in touch with CAM... I was really impressed with the advice and time which was given to me from Nathan Jacketts. I have been going around in a cycle of credit card debit for as long as I can remember. I originally wanted a loan, but discovered they are other options available to me that I was not aware of. I now have all my debts consolidated into an IVA paying one affordable repayment of £155 a month. This has changed my life, I now dont have to stress each month managing 5 to 6 separate payments going out each month. I highly recommend CAM and Nathan for not judging me 👍
Highly recommend Care About Money, I had a bailiff at my property over a parking fine at 5.20pm, I found care about money online and gave them a call. Spoke initially with Eli, who was beyond incredible and gave me advice on what I needed to do and what my options were he arranged a priority phone call for the following morning at 9.30 where Justin , was equally as incredible we went through everything thoroughly and he explained my options and started the process. Immediately they contacted the creditors on my behalf and got me legal protection meaning I had time to come up with a plan on what to do but stopping the company/companies from contacting me in any form or removing assets. Every single person I dealt with has so much compassion and genuine empathy. They were so respectful and helpful.
Was quite amazed how quickly, Care about money worked. I was in quite a lot of dept and had many company's I owed money too, thay sorted out all my bills and some I didn't remember and consolidated all my moneys owed into one month's affordable payment, Eli and Dan sorted out my finance to a point where now j feel quite lifted and free from worrying about who was going to knock at my door. So I would like to thank everyone who has made this possible for me. Kenny Emptage
Frequently asked questions
When your Debt Management Plan (DMP) finishes, you should have repaid your unsecured debts in full (unless creditors agreed to partial settlements). At this stage, you’ll be debt free and can begin rebuilding your credit rating. Some creditors may update your file as “partially settled” if not all the debt was cleared, but the important thing is you will no longer be making monthly DMP payments.
There’s no set minimum or maximum duration for a DMP. The length depends entirely on how much you owe and how much you can afford to pay each month. Some plans may last just a couple of years, while others could run for 5–10 years if you have larger debts and lower
disposable income.
A DMP itself doesn’t appear as a specific entry on your credit file, but the reduced payments to creditors may be recorded as “arrangements to pay.” These will affect your credit score while the plan is active. Negative markers usually remain on your credit report for six years from the date they were added, even if the DMP has ended.
Most creditors are open to accepting a Debt Management Plan (DMP) if it shows you are making a realistic effort to repay your debts. While they are not legally required to accept, many lenders will agree because it ensures they receive regular payments rather than nothing. Some creditors may also freeze or reduce interest, but this cannot be guaranteed.
If you stop making payments, your DMP will fail, and your creditors may resume chasing you directly for the money owed. This could include letters, calls, adding interest, or even taking court action. It’s important to speak with your DMP provider if your circumstances change, as
your plan may be adjusted rather than cancelled.
A DMP can usually be set up in just a few weeks once your income, expenses, and debts have been reviewed. The process is relatively quick compared to other debt solutions, and payments can usually begin the following month.
A DMP itself won’t directly appear as a separate entry on your credit file, but your reduced payments may show as “arrangements to pay” or late payments. This can affect your credit score, which some landlords or letting agencies check. It doesn’t automatically prevent you
from renting, but you may need a guarantor or to provide proof of income depending on the landlord’s requirements.
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