Debt Management Plan

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What is a Debt Management Plan (DMP)?

A debt management plan (DMP) is a structured monthly consolidation plan at reduced interest rates which means you can pay your debts at very affordable rates.

Your DMP provider will help you work out an affordable payment and talk to your creditors.

You make one monthly payment to the DMP provider who then pays your creditors for you.


Benefits of a DMP:

First evaluate your financial status and try to make a budget. Making budget will allow you pay your debts faster. Depending on your financial situation, we may recommend you to enroll in our debt management programs(4. Debt management) .In which you pay us only one payment monthly and then it’s our responsibility to pay all of your creditors on your behalf.

We also help you in credit card relief programs by finding out if credit card negotiation is possible or any other decrease in interest rate is possible.


  • • After keeping aside money for your household budget you only have to pay affordable amount to your creditors.
  • • You'll make only one monthly payment to us and we'll manage the payments to your creditors on your behalf.
  • • If you’ve fallen behind with your household bills you can add the arrears to your DMP to help get your accounts back up to date. You'll still need to make your regular ongoing monthly payments.
  • • To assure that you are paying what you can afford we’ll review your DMP regularly.

Risks of a DMP:

  • • Most creditors will agree to reduce or stop interest and charges, but they don’t have to.
  • • If creditors continue adding interest and charges, this could increase the total amount you currently owe.
  • • Your creditors don’t have to agree to your reduced payments, but we’ll still send your payments anyway.
  • • Your creditors may still take further court action against you, such as a County Court judgment (CCJ)

Debts payable with DMP:

You can only use a Debt Management Plan for non-priority debts

These include:

  • • Personal loans
  • • Overdrafts
  • • Bank or building society loans
  • • Catalogue, home credit or in-store credit debts
  • • Borrowed money from friends or family
  • • Credit card, store card debts or payday loans

Debts not payable with DMP:

You can’t use a Debt Management Plan to pay off priority debts.

These include:

  • • Court fines
  • • TV License
  • • Gas and electricity bills
  • • Council Tax
  • • Child support and maintenance
  • • Income Tax, National Insurance and VAT
  • • Mortgage, rent and any loans secured against your home
  • • Hire purchase agreements