Debt Management Plans

Your Debt Management Plan (DMP) with Humber Debt Solutions is a programme where all of your unsecured debt repayments are consolidated into a single – affordable monthly repayment plan. 

A Debt Management Plan is not a loan, so you are not borrowing more money and not getting further into debt. 

Our Debt Specialist Team negotiates on your behalf to make your payments as manageable as possible. 

You can pay weekly, fortnightly or monthly depending how you budget, making if convenient and affordable for you. 

You make your payments to Humber Debt Solutions and we share this between your creditors proportionately (less our management fee).

We will negotiate with all of your unsecured creditors on your behalf, asking for your interest and charges to be frozen and making reduced offers of payment to bring your total monthly payment to your debts down to an affordable and sustainable level.

Any telephone calls you receive from your creditors can be referred to us and any mail you receive can be forwarded to us.

 

Debt Free IVA

Reduce your debt payments

Debt Free IVAFreeze your interest and charges

Debt Free IVA

Write off most of your debt (IVA)

Debt Free IVA

Stop letters and phone calls

Debt Free IVA

Stop legal action and bailiff visits

 

Benefits of a Debt Management Plan

  • Consolidate your debts into one reduced monthly repayment.
  • With a DMP you only pay what you can afford, based on your income and outgoings, this could be as little as £75 per month.
  • Once you enter into a DMP, your creditors often agree to freeze your interest and charges for the term of the DMP, so the debt doesn’t increase.
  • You are assigned your own Personal Debt Advisor and are given their direct contact details.
  • Debt Management is an informal arrangement that avoids the need for formal insolvency procedures such as an IVA or Bankruptcy.
  • You will no longer need to negotiate with your creditors alone, we handle all negotiations on your behalf.
  • We will deal with all correspondence from your creditors.
  • Your creditors contact us instead of you. If you get any communication while in a Humber Debt Solutions Debt Management Plan, just refer them to us and we’ll handle it.
  • You don’t borrow any more money and therefore avoid getting further into debt.

 

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