Preparing for your DMP review

If you are on a Debt Management Plan (DMP) with Gregory Pennington, you must complete a review at least every 12 months, or whenever you have a change in circumstances.

Why reviews are so important

Your review is vital. Firstly, it means we can check if your DMP is still a suitable debt solution for you. If things have changed in your life, or finances, it may mean that another solution is more suitable for you – and could even help you clear your debts more quickly.

Secondly, your review will confirm if the regular payment you are making into your DMP is set at the right level. During your time on a DMP, your finances will change. These days, the general trend throughout the year is a steady climb in the cost of living. For example, each April, council tax usually goes up. Unexpected costs you didn’t budget for can pop up too.

On the flip side, your income could go up, large expenses you have such as a hire purchase agreement could come to an end, and so you might be in a position to pay more towards your debts, and ultimately get yourself debt free quicker.

Because of these changes, we need to complete a review to make sure you always have enough money to cover your priority bills and essential day-to-day costs like you rent or mortgage, utility bills, food etc. and to make sure we are helping you get debt free as soon as possible.

Don’t worry if numbers aren’t your thing, our friendly Review Specialists will help make the review call as easy as possible.

Before the review, it is worth spending a little bit of time preparing. Here’s what you need to do.


Send us proof of income

Around six weeks before your annual review we’ll email you to remind you that you need to send us proof of your income. It’s really easy to do this. Just use your phone to snap a picture of your most recent payslip or bank statement showing your income. The go to and click on “Document Upload” at the top of the page – and follow the instructions.

Book your review

A month before your annual review due date we’ll send you a reminder to book your review. You can call us or email us to book a slot that suits you. You’ll need to allow about an hour of your time for the review. We are open until 9pm weekdays, if you need to do the call outside normal working hours.

If your circumstances changes, you don’t need to wait until your next annual review to tell us. Just call us on 0161 393 7188 and we will book one in with you.

Know your income

When we speak to you, it’s a good idea to have details of your income to hand, especially if you are paid weekly, fortnightly or four weekly; if your income fluctuates or if you have a number of sources of income, like wages and benefits. Your income could fluctuate for many reasons: maybe your work is seasonal, maybe you sometimes do overtime, or maybe some months you get a bonus. If this is the case, the more information you can provide us the better. Again, don’t worry, our friendly advisors will help set your income at an appropriate amount.

For those of you who are self-employed, you will need details of your latest tax return and what expenses are put through the business. It is a good idea to get this information together before your review.

Have your bank statements handy

Having some recent bank statements to hand can often speed up the time in which we can complete your review.

There may be some items of expenditure you don’t know from memory, and some things we might ask you that you hadn’t considered. The more months you can have to hand, the better.

Think about what’s changed (or about to change) in your life

If you’ve got a baby on the away, are changing your job, or you are planning on moving in with your partner, we need to know. Before your review try and think about what’s changed in your life in the previous twelve months. And, thinking ahead, what are your hopes and aspirations for the year ahead.

There will be some questions during your review that might seem unnecessary, even intrusive. Be aware that our advisors will never ask you anything that isn’t important. The more they understand, the better they can advise you.

Please be aware, the review isn’t just to establish how much your payments into your debt management plan will be. Our advisors will be looking to see if there are any other debt solutions that could get your debt free quicker.

What happens after your review?

A day or two after your review we will text you to ask you to feedback on how it went. Please take a moment to complete the short survey.

After your review we will send you details of our recommendation (even if nothing has changed), and a copy of your updated financial statement. Please check that you are happy with it – because we will be sending copies to the lenders included in your DMP, to ask them to continue to accept your lower payments, and requesting that the freeze interest and charges.

And that’s it! Remember – it's your review, for your benefit. We’ll work with you to try and make the whole process as smooth as possible.

Need expert help with your debts? Complete our form to request a callbackRequest a callback
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  • 0161 669 8925

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