Getting a DMP can usually make your debt problems easier.

But where to get it from? Is your provider qualified enough to know what he’s doing? And is he even authorised to do so?

Learn everything you need to know about government debt management in this article. 

Let’s dive right in.

Options For Paying Off Your Debt

There are a number of options available to the public to clear their debts. Moreover, you can even get free debt advice regarding debt solutions both online and from professionals in person.

There are many debt management services that give you debt advice and help you formulate a debt payment program which clears your debts and also helps you avoid a bankruptcy situation.

If you want free money advice service and want an answer to every debt question (for free), you can log onto the stepchange debt charity web-site which connects you with industry experts who give you solutions to your debt problems.

The UK stepchange website provides support and solutions to your debt issues according to the rules and regulations applied throughout the United Kingdom. 
The UK government also has other services in action to give you ways to pay back your debts. The best thing about free debt advice websites like this is that they follow strict data protection regulations and don’t give your information to anyone.

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What Is A Debt Management Plan

A debt management plan (DMP) allows you to pay your debts back to your creditors at a rate that you can easily afford. These are for non-priority debts like credit card debts. Debts like national insurance and government debt don’t come in this category.

DMPs are offered by government debt management companies who don’t let their customers fall into bankruptcy.

In England and Wales, DMPs are quite common as a lot of people need a debt solution and don’t have the time and expertise to talk to their creditors . These people then contact a government debt management company to get debt solutions.

The company connects them to an insolvency practitioner who analyses their debt trends and talks to their creditors about the regular payments they have to pay. The government debt management companies reach an agreement for their customers which they can afford.

Remember though, these government debt companies have to be authorised by the financial conduct authority before they can offer solutions to your problems. 

Government debt help is often free. Make sure you’re not getting ripped off by your services provider and that your money is not going to waste. Get proper information on the company you’re going for (watch their adverts and visit their website too – it helps).

Government Agencies Offering Debt Management

The Government agency responsible for everything related to debt is the Debt Management Office (DMO). They will arrange for you to get a DMP as well.

The DMO is currently managing all of the UK’s government debt, so this is definitely a reliable option to look into.

Other places you could contact are the National DebtLine and the Stepchange Debt remedy office (but they are not affiliated with the UK government).

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Frequently Asked Questions (FAQs)

Which is the best debt management company in the UK?

In England and Wales, the best debt management company is probably Stepchange debt charity (2020). For the Scotland variant, search up Stepchange debt charity Scotland on Google for government debt help. 

More information on UK debt issues can be found on the National DebtLine. The best equity release agency across the UK is probably Age Partnership.

Will My Assets Be Seized In A Debt Management Plan?

No, a debt management plan only offers a debt solution. The plan does not require any assets to be seized. However if you fail to pay back your debts, your assets could then be in jeopardy.

How Do I Know My Debt Management Provider is Legit?

Remember, all debt advice providers have to be authorised by the Financial Conduct Authority. People providing debt solutions have to be qualified to do so. Check their website for their phone number and call them directly to talk to them. 

You can usually tell right away if someone is ripping you off in this profession. The information that they provide would be very inaccurate. Read online to learn at least the basics about finance management (for example, ways to calculate the inflation premium) and ask them these questions.

Also, search online and see if your provider has posted some adverts on the internet. Usually, people scamming you won’t have these as they wouldn’t have the money to invest in doing so.

Are debt management plans a good idea?

Yes, debt management plans are just an agreement which someone else makes for you. They usually allow for debts to be paid earlier than initially planned and people avoid bankruptcy in 9 cases out of 10. 

You should always get debt advice from an expert as acting on your own may lead to easily avoidable mistakes. People who follow the debt solutions given to them almost always end up avoiding bankruptcy. When you have a professional talking directly to your creditors, it becomes easier for you.

How do I arrange a debt management plan?

Contact a government debt agency such as the DMO. They would probably arrange for you to get a practitioner to talk to your creditors and resolve conflicts. They would give you free debt advice as well in the process.

Wrapping It Up

Talking to a professional helps in every case. They analyze your debt trends and give you debt advice according to that.

Don’t be shy to ask for help. It most probably will improve your situation.


If you have any more questions, reach out on the given email address for more debt advice. I’ll be happy to answer your queries.

Good luck!

About the author

Scott Nelson

Scott Nelson is a financial services expert, with over 10 years’ experience in the industry, including 6 years in FCA regulated companies. Read more
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