If you're in a debt management plan (DMP), it may have an impact on your credit rating. This could mean you find it more difficult to get credit in the future.
Being on a debt management plan (DMP) will almost always affect your credit file and score. This is because you could be paying less than the minimum .
A debt management plan (DMP) can help you if you're struggling to pay off your debts. Find out what a DMP is, how it works and how your credit score could be .
While repaying your debt more slowly or at a lower interest rate is better than not paying it at all, a debt management plan can still adversely impact credit scores.
Click here to understand how a debt management plan affects your credit rating and speak to PayPlan today about we can help with your problem debt.