What to do now your debt management plan has stopped

Money Advice Service

Now that your debt management plan has stopped you may be wondering what to do to keep up with the good work you’ve already done to take control of your debts and make sure your repayments stay on track.

There’s no need to worry but it’s

A free debt adviser can give you confidential, impartial and high-quality advice.

They will help you look at all your options and check that staying in a debt management plan is still the right thing for you. If it is, they’ll help you set one up for free, so you could be debt free sooner than you’d planned.

Find free debt advice near you with our Debt Advice Locator.

What do I need to do first?

Contact a free debt advice provider about your situation as soon as you can. They can help you look at all your options and check that staying in a debt management plan is still the right thing for you. If it is, they’ll help you set one up for free.

Should I cancel my direct debits?

If

How can I get free debt advice?

You can receive debt advice online, by email, over the phone or face to face.

Do I still owe money?

When a debt management firm

What about the money I have already paid?

Money you have already paid should have gone to reduce your debts but the people you owe money to may have continued to add interest and charges. This means the overall amount you owe may not have reduced significantly. It is important to get free, impartial advice quickly to understand exactly how much you owe so you can find the debt solution that is best for you.

How quickly do I need to act?

The people you owe money to should be sympathetic if you act quickly. If you don’t, things could get worse and you may end up deeper in debt. A free debt advice provider will be able to help you identify your best course of action.

Will the people I owe money to start contacting me?

The people you owe money to are likely to get in touch with you. Their priority should be to ensure that you find an alternative advice provider. They should provide a period of forbearance. This means they should not take further action for a limited time. This should give you time to get debt advice and

If you do not

Are fee-charging debt management firms bad?

Charging a fee to provide debt management has been a commonplace business practice for many years.

It is possible though to set up a debt management plan for free. All the free debt advice providers we recommend are confidential, impartial and give high-quality advice.

Can I trust the advice free debt advisers will give me?

The d

The benefits of seeking advice are that:

  • you continue to repay what you owe
  • an adviser will continue to liaise with the people you owe money to
  • you will receive on-going support if you need it.

  • Lines are open Monday to Friday – 8am to 8pm, Saturday – 9am to 1pm
Find free debt advice near you with our Debt Advice Locator tool.

This article is provided by the Money Advice Service.

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