We will manage the contact with your creditors and provide them everything they need. So, as long as you keep in touch with us, your creditors shouldn’t need to contact you.
You will just make one monthly payment to us, instead of paying all of your creditors individually.
In the vast majority (99.48%) of cases, creditors will stop applying interest and charges, so the money you pay will come straight off the balance.
You will have an online account which you can use to view your account and make changes.
If your circumstances change, we will renegotiate the payments with your creditors.
Disadvantages of a DMP
Your creditors don’t have to agree to the repayment, or to freeze interest and charges.
Your credit rating will be impacted because you’ll be paying reduced amounts to each creditor. If you’ve been missing payments to your debts it is likely that your credit report will already have been impacted.
