Informal Debt Plans: What is an Informal Debt Solution? The Main Aim Of An Informal Solution: What will an Informal Debt Solution achieve for you? A Word Of Caution How will your creditors react to your Informal Personal Plan? Correspondence you may receive from your creditors: Things you must do/ and inform your advisor: Advantages of an Informal Arrangement. (DMP) Disadvantages of an Informal arrangement. (DMP) Is it a loan? How long will my Debt Management Plan (DMP) last? Will my creditors agree to my a payment? Will interest and charges be frozen? Can my creditors still issue me with a County Court Judgement? (CCJ) Will I get a default notice? How do I make the payments? Can I cancel my debt management plan when I like? Who informs the creditors? How is my credit rating affected? Do creditors stop making calls and sending letters?
How do I make the payments? The payments will be collected by us usually by standing order and then paid to the creditors. Based on the information you provide we will then disburse your funds to the creditors or their appointed collectors.
