Moving Debt Management Company, Plan (DMP) or Service?

  • There are implications and things to consider as well as do, when moving debt management company or changing debt management plan (DMP) service providers.

If you have decided to move from one debt management company or service to another, there are things you should be aware of and things you need to make sure you do before the move, switch or change.

  • Cancel your Authority to Act with the company you are currently with or using.
  • Advise creditors you are now changing to another debt management company or service.
  • Stop all payments to your existing debt management company.
  • Hold on to your new post from your creditors.
  • Set up new payments to creditors or your new chosen debt management service.
  • If you are switching, changing or moving to a new debt management service remember to sign the relevant Authority to Act form and return it.

If you are moving debt service or company, or simply wish to switch your debt plan, ask yourself if you have given this current debt company enough time to help you.

Most consumers think that once the debt management service they have instructed takes over, all their problems will go away over night.

This is not the case, if correctly managed your finances will take time to correct and moving, switching, or changing company does not usually clear your personal debt any quicker!

  • If you are thinking of leaving, switching, moving or changing your existing debt help service, call our personal debt helpline first in total confidence using;
  • 0800 018 6868

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