DIY Debt Management Plan

The do it yourself debt management plan is not exactly a debt solution, but it certainly is a great way of getting the creditors off your back and giving you a chance to think what your next step should be. Here we give simply tips and advice on managing your debt and giving yourself breathing space to tackle your debt problems.

In this pack you will be given a step by step set of instructions on how to set yourself up in a debt management plan.

You will also have access to email support should you need it. You can submit your Income & Expenditure for review before sending to the creditors. Your Income and Expenditure will be reviewed from a creditors point of view.

The pack includes:

• DMP easy to follow flow chart
• Initial letter of contact to the creditors
• Letter of Authorisation (to be used if you are assisting a partner or friend)
• Offer of payment letter
• Full Financial Fact Find – Spreadsheet calculates the amount of disposable income available for creditors on a pro-rata split
• Expenditure Trigger Figures – What is reasonable expenditure.
• Freeze Interest Letter
• List of Creditors and Account Numbers – Useful if setting up Standing Orders to Creditors (keeping you in control of your finances!)
• Harassment Letter – to be used only if you feel that the creditors phone calls are excessive.