DEBT MANAGEMENT PLANS BY CDM FINANCIAL
START YOUR JOURNEY TO FINANCIAL STABILITY
A PROFESSIONAL AND FRIENDLY TEAM
CDM Financial LTD have been helping people all across the UK manage their unaffordable debts. Our team is professional and friendly. Always treating you with respect and dignity. If you are struggling with your unsecured debt, unable to manage both your household bills and your credit commitments, A Debt Management Plan (DMP) could be the suitable debt solution for you.
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A DMP is an informal solution run by a third party company who will negotiate with your creditors to try to agree lower payments at an amount you can afford, so you pay less but for a longer time until your debts are paid in full.
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The advice given by CDM Financial is free however if you decide to proceed with an DMP, there are fees applicable. These fees are included in your affordable monthly repayment and not on top of. A DMP is available to residents of England, Wales and Northern Ireland, and there are both fee charging and free Debt Management companies.
Need more advice on if a DMP or Individual Voluntary Arrangement would be the best option? Get in contact with us today to see which solution is best for you, we also offer trust deeds for those living in Scotland.
WHAT ARE THE BENEFITS AND RISKS?
BENEFITS OF A DMP
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You may be able to agree reduced payments that are more affordable
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There is usually flexibility with your payments and the amount can be reviewed if your circumstances change
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You can withdraw from the Debt Management Plan at any time
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The Debt Management company will liaise with your creditors on your behalf, which removes some of the stress from you
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There are a number of charity organisations who can help you to set up and administer a plan with no charge to you
RISKS OF A DMP
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The plan is not legally binding upon you or your creditors, so they are free to withdraw their agreement to the reduced payments at any time and pursue alternative collections methods. This includes legal action, even if you are making every effort to pay
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You may still be charged interest and late payment charges, which adds to your overall debt level
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You will still pay back the full amount you owe, but over a longer period
WHY CHOOSE A DEBT MANAGEMENT PLAN TODAY?
CONSOLIDATION
Organise your non-priority debts into one easy payment.
SUPPORT & ADVICE
We offer free impartial advice when choosing your ideal debt solution.
EXPERIENCED TEAM
With over 15 years' industry experience, our team can offer trusted advice and plans.
CONFIDENTIAL
Our services are completely confidential, and you're always treated with dignity.
FIND FINANCIAL FREEDOM WITH A DEBT MANAGMENT PLAN
AM I ELIGABLE FOR A DMP?
Most adults are eligible for a debt management plan if they are struggling to meet repayments. A DMP is designed for 'non-priority' debts such as loans, credit cards and catalogues. If you are struggling to pay your priority debts such as rent, council tax and utility bills then a DMP may not be the best solution for you.
WHAT DEBTS CAN A DMP HELP WITH?
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Loans
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Credit cards
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Catalogues
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Shop cards
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Student loans
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Water charges
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Benefit repayments
Discuss debt management plans with CDM Financial
