DMP Costs and DMP Fees

With a Debt Management Plan (DMP), a considerable amount of the work we do for you takes place at the start of the arrangement. This includes your initial consultation, examination of your income and expenditure, and liaison with your creditors to come to an agreeable and affordable monthly repayment plan. As such, we retain as a fee, the first monthly payment and 90% of the second monthly payment in order to cover the cost of agreeing and implementing your Debt Management Plan. It's worth noting that the initial fees can temporarily put you further in arrears as your first few payments will actually go towards covering the administration and management of your arrangement.

Once in the plan, we allocate you a dedicated Customer Service Officer (CSO) who will be your main contact. All of our CSOs are fully trained in Debt Management and they are on hand to offer any help you may need in dealing with your creditors or making your monthly repayment. Your CSO takes on the role of dealing with your creditors directly including handling any calls from or to them, responding to any letters you have received from them and liaising with you as frequently as necessary.

Your CSO will be on hand to advise you on any new problems that may arise and every six months, they will carry out a review to ensure you are still able to afford the monthly payment. They will also discuss any changes to your lifestyle or circumstances which may require an amendment to your debt management plan. You will also be issued with a quarterly statement to keep you updated on your progress - this should be filed safely with your paperwork.

Unless agreed otherwise with you, to cover the cost of the service we provide, we take a gross fee equal to 17.625% (subject to a minimum fee of £30.00) from each monthly payment made by you into your DMP. The remaining amount will then be distributed as agreed in your plan, to your creditors within seven days of receipt of the cleared funds into our Clients Account.