Debt Management Plan
Informal repayment plan — pays debts in full, over more time
Pros
- Informal — no court or formal insolvency process
- Payments can flex if your situation changes
Cons
- Debt is not written off, only spread out — usually takes longer to clear
About Debt Management Plan
A Debt Management Plan (DMP) is an informal arrangement to repay your debts in full, but over a longer period with reduced monthly payments. Unlike an IVA or DRO, it doesn’t write off debt — it simply spreads repayment out.
How this works
Check
See if debt management plan suits your situation
Request a callback
Leave your details below — no obligation
Get advice
A partner debt adviser talks you through your real options
Frequently asked questions
Does a Debt Management Plan write off any of my debt?
No — a DMP is informal and repays your debt in full, just over a longer period with lower monthly payments. If you need debt written off, an IVA or DRO may be more suitable, depending on eligibility.
Are you a debt adviser yourselves?
No — Reduce Debt Quickly is an independent information service. We always recommend free advice from StepChange, National Debtline or MoneyHelper before choosing any paid solution.
Will these options affect my credit file?
Most formal debt solutions (IVA, DRO, bankruptcy) do affect your credit file, typically for several years — this is disclosed honestly on each option’s page above.
What happens after I request a callback?
A partner debt adviser reviews your situation and explains which options genuinely apply to you — there’s no obligation to proceed.
Request a callback
Leave your details and we’ll call you back to talk through debt management plan.