Debt Management Plan

If you are struggling to make your repayments – after paying your essential living costs each month – a Debt Management Plan could be the best option for you.

Benefits:

• Repay unsecured debt with one affordable monthly payment tailored to your circumstances. DFH deals with your creditors for you. We will even negotiate with these companies to stop interest and charges on your debts when possible, even though they are not obliged to.
• Flexible. If the unexpected happens, we can change your plan to suit what you can afford to pay.

How does a Debt Management Plan work?

With a Debt Management Plan, you pay off your credit commitments in one affordable monthly payment.

When you start your plan, one of our debt management experts will help you work out what you can afford to pay. Then we’ll negotiate with your creditors for you (‘creditors’ are the companies you owe money to).

When we negotiate with your creditors, our aims are to:

• Reduce your monthly unsecured debt payment you pay what you can afford
• Deal with your creditors on your behalf in order to stop them contacting you

Find out more about:

Debt Management FAQs
Debt Management Alternatives

Further Debt Help and Advice
Try our Debt Calculator

Subject to availability and acceptance. Debt write-off applies on the completion of and Individual Voluntary Arrangement. Alternative solutions may be offered. Repaying debt over a longer period of time may increase the total amount to be repaid. Whilst on an IVA and for a year after completion your credit rating will be affected.

Repaying your debt over a longer period of time may increase the amount you pay. Joining a debt management programme won't always show up on your credit report, but it could still affect your ability to obtain credit - making a new repayment agreement with your creditors does mean you're not following the original agreement.