Debt Management

Debt Management Programme (DMP)

is an informal arrangement between you and your unsecured creditors administered by a Licensed Debt Management Company. A debt adviser works out a reasonable payment offer, where you have sufficient funds to live on and the rest is evenly distributed between your creditors. A payment offer is normally much lower then your contractual payments.

If you are struggling to pay your debts a DMP with Integrity Financial Servicess can help to:

• Get free professional debt advice


• Make one affordable monthly payment to creditors


• Have enough money for all necessary expenditure in your household


• Find dedicated team that deals with your creditors directly on your behalf


• Negotiate with creditors an agreement to reduce or stop any further interest and charges

A DMP may be solution if you have:

• Multiple debts that are difficult to manage


• Mortgage, rent, council tax or utility bill arrears


• CCJ's against you or been threaten by court action or bailiff visit


• Credit and store cards, personal loans, overdrafts, mail order catalogues debts

Advantages

• Immediate release of pressure from creditors


• Controls Monthly expenditure


• Improves affordability when applying for loans

Disadvantages

• Informal agreement


• Some creditor's may delay stopping interest