No. You would make a single payment to an approved Payments Distributor, who would distribute this between all of your creditors for you. As long as you stick to your side of the agreement, your lenders wouldn’t be able to take any action against you. If you are still getting contact from creditors after approval of your DPP then you would inform your continuing money adviser who would then get in touch with them again on your behalf to stop this.
May not be suitable in all circumstances. Fees apply. Your credit rating may be affected.
Free debt counselling, debt adjusting and providing of credit information services is available to customers by contacting MoneyHelper.