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DMP advice for newbie. Please help

moogle87 · 2025-09-19 23:56:43

Hi all, My husband & I are £41k in debt & have £4.5k in savings as we've just sold an asset. We are looking at entering into a joint DMP. The debt in my name is low (£9k) but I'm the problem spending wise (It's me who overspends) so we are looking at making it joint. StepChange suggested an IVA or DMP. The DMP seems to be…

Comments

fatbelly Posts: 23,133 Forumite

20 September at 11:03AM

Breathing Space is the colloquial name for the government's formal Debt Respite Scheme. Stepchange campaigned for it, got it, and generally recommend it to their clients

You can ask each creditor for breathing space but it contains no statutory protection.

Not that you need any at the stage you are at. The debt management process is not that scary

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