What is a Debt Management Plan (DMP)?

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A debt management plan is an informal voluntary arrangement made between you and your creditors. You will need to complete an assessment of your weekly or monthly household income and expenses. If you have income left over then this will be shared among your creditors. The payments are worked out by the amount you owe to each creditor. This is known as pro rata payments. You can get help setting this up through one of our Debt Action advisors.