How will your creditors react to your Informal Personal Plan?

The majority of your creditors will be sympathetic to your situation and will recognise your efforts to repay your debt. They will usually reduce or totally stop charging interest.

Unfortunately, some creditors will not and if all of your creditors refuse to stop charging interest, then this will prolong the timescale of your debt management plan. Also, some of your creditors may continue to contact you for a short time to request that you increase your offer of repayment. Remain calm and relaxed and explain that at present you are in no position to increase your monthly amount. Do not be pressured into making increased payments. Feel free to contact us if you are concerned about this.