Debt Management Plan

A Debt Management Plan (DMP) is an informal agreement between you and your creditors


Debt Management Plan

An Informal Arrangement is between you and your creditors without legal force.

You need to use a licensed Debt Management Services* provider to negotiate on your behalf with your creditors, asking them to get outcomes like:

Reduce or stopping fees and charges.

Stopping the debt collection calls.

Cease any legal action.

Lowering repayments to meet your affordability.

Reducing the balance payable (Debt Settlements)

Your Debt Management Plan will then be proposed only on what you can afford to pay. You then make one easy payment to your Debt Management plan and your provider will manage and on-pay your creditors under the arrangement.

This means that creditors stop calling and harassing you, because they know a plan is in place that you will stick to.

Advantages of a
Debt Management Plan

This arrangement is not an insolvency agreement, it is not bankruptcy and is not a Part IX Debt Agreement. It is suitable for many people who do not want these options or cannot consider these options.

It can help protect your credit rating and reduce your stress because you know you have a solution in place.

It provides flexibility to consider future options and does not lock you in.

There is no limits of the types of debts, loans, bills, accounts, or other facilities that a Debt Management Plan can cover.

It consolidates all your payments into one single repayment every weekly, fortnight or month.

Get back on track in just 4 easy steps

Debt can be incredibly stressful, but it doesn’t have to be.

Considering a Debt Management Plan?

Get an obligation-free Debt Consultation with one of our expert consults to discuss your options.

*The licensing is only needed when the accounts are Consumer Credit Contracts. Our sister business Bill Butler (Financial Managers) has this covered so any discussions around Debt Management will be with them. A DMP is not debt consolidation.