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This solution is available throughout the UK.

About token payment plans (TPPs)

This is where you pay £1 each month to every creditor, usually for up to one year. You give the money to us, and we divide it among the people you owe money to.

A TPP helps you get extra time so you can handle your debt problems, and ease things with the people you owe money to. At this moment you cannot afford to repay them what you owe in a reasonable amount of time.

Things you need to know about your TPP

  • A single monthly payment: With your TPP, you make just one monthly payment to us. We then share the payments to your creditors for you.
  • Time to deal with your finances: Making reduced payments can give you the time and space you need while you get back on your feet.
  • Interest is often stopped: Many creditors choose to stop interest and charges as a gesture of goodwill. However, please note that not all creditors will do this, and they do not have to stop charging fees.
  • It makes things a bit easier: Your payments to less important or non-priority debts will be lowered. This makes it easier to cover your essential living costs until your situation improves.
  • No fees: We don't charge fees for a TPP

To choose your solution and receive your personal action plan, log in here

How this works

We work out what money you have left over to repay your debts after you pay for things you need to live, like food, housing, energy, and water bills. These are known as your priorities.

We will check the information you give us, and if we have any questions or need more details, we will contact you.

You make one monthly payment to us, and we share this between your creditors.

With a TPP, interest and charges are often stopped by creditors. This is because regular payments are being made to them through the TPP.

We do not charge any money for this plan. All your payments go towards helping you repay your debts.

We will send your payments to the people you owe money to within five working days after we have received them.

Things to consider

  • Even though you are making payments through your TPP, creditors may still request payments. Remember that you only need to pay what you can afford
  • Since your payments are too low to repay what you owe, a TPP is not a long-term solution
  • Please ensure you make the payments to your priority payments directly
  • Your credit file will be impacted. Your last six years payments can be seen and this may make it harder to obtain credit in the future
  • While we handle payments to your creditors, you remain responsible for your debt, and creditors could still pursue further action
  • Your TPP will usually last for up to one year. We will help you understand what your options are when your TPP ends, or if your circumstances change

TPPs and your credit score

  • If you are paying less than the agreed monthly payment your credit rating is already affected and you will find it much harder to get further credit
  • The only way to avoid a poor credit rating is to pay all your bills on time and clear any arrears you have immediately.
  • You should consider how important your credit score is to you. Do you need to take out any further credit? Are you planning to borrow more money and why?
  • But if you are struggling to make payments to your creditors, borrowing more money will make your situation worse. If you have a debt that is guaranteed by another person, they will have to pay the rest of it

Ready to take your next steps? Find out what to do next.

To choose your solution and receive your personal action plan, log in here