If you decide to start a Debt Management Plan (DMP) there is nothing to stop you setting it up yourself. This is regardless of the amount of debt you owe, how many creditors you have or how much you can afford to pay.

If you do not want to manage the Plan yourself you can use a debt management service to help you. This can be ideal if you are concerned about negotiating directly with your creditors yourself and you want the simplicity of paying just one payment a month which will then be shared between your creditors on your behalf.

BMD Tip: Wilmott Turner does not offer a service to help you implement a Debt Management Plan.

We will advise you as to whether it is the right debt solution for you. If you want specific help with setting up and managing your Plan we will explain the options of either using a free or a fee charging service and point you towards the different organisations that can help you.

Government Advice about DMPs

Before making the final decision to apply for a DMP you should also read the Insolvency Service’s guide to personal debt solutions which you may also find useful: “In Debt – Dealing with your creditors”. It is also recommended that you read the one page document produced by The Money Advice Service (MAS) entitled “Dealing with debt – 5 things you should know”.