A debt management plan (DMP) helps individuals or households manage their debts
when they are unable to maintain their contractual payments to their creditors due
to financial difficulties.
Depending on negotiations with your creditors it may also be possible to freeze
interest and stop charges on your account meaning that your monthly payment will
go towards paying off your balance – resulting in you clearing your debts sooner.
A debt management plan (DMP) is not legally binding meaning that you are able to
cancel the agreement at any time. You can also vary your monthly payment depending
on your circumstances.
Debt Reverse currently has repayment plans set up with 1000s of creditors on behalf
of our customers. Through these working relationships we are able to set up debt
management plans that allow our customers to reduce their monthly repayments in
line with what they can afford, we can also reduce or freeze interest and stop further
charges being added to their accounts. If you are currently in debt, search our
creditor directory to see if we work with your creditors.
We will put together a debt management plan that will focus on your high interest
payday loans; we will immediately begin negotiating with your payday loan companies
and request that they freeze interest and stop further charges on your accounts.