A Debt Management Plan or DMP is an informal solution which allows you to repay back your debts with one affordable payment each month. Due to a DMP being informal your interest and charges are not guaranteed to be frozen but this is negotiated with the creditors. All the work is done on your behalf so you don’t need to speak to your creditors.
Being on a DMP can help ease off the pressure from your creditors although in some cases they may still contact you. The amount you pay each month towards your DMP is determined after running through your income and expenditure with a debt advisor. Ensure you’ve compared your Income/Expenditure to your Bank statement and therefore not missing anything out.