Borrowing again after your DMP – the results are in!

Last month we asked you how you felt about borrowing again once your DMP is over. Your choices were:

• yes, I see borrowing as an essential part of life,

• yes, but I will be far more cautious,

• not sure,

• no, I will try to avoid borrowing and save more, or

• no, I don’t want to ever get into debt again.

So how do most of you feel about borrowing again? Let’s find out.


‘I don’t want to be in debt again’

A whopping 42% of you said ‘no, I don’t ever want to get into debt again’ making this the most popular choice overall. 33% of those who responded chose ‘no I will try to avoid borrowing and save more’ making that the second most popular choice.

18% of you said you would consider borrowing again but that, crucially, you’d be far more cautious this time around. Only 5% of you said you weren’t sure and a tiny percentage – 2% - said that you see borrowing as a necessary part of life and that you think you will definitely borrow again.

‘Never want to be in debt again, the only thing I will borrow for is a house’

We also learnt that there are a few of you that would only consider borrowing for emergencies or for really big purchases, such as buying a car. Lots of you also aspire to owning your own home, and if your circumstances permit, there should be no reason why you can’t rebuild your credit history to enable you to get a mortgage in the future.

‘I will only borrow if I really have to – otherwise I will try and save!’

It was also clear from the comments that many of you now aspire to be savers, rather than borrowers, when it comes to your financial future. You can find tips on saving and choosing a savings account here.

You should find that it’s much easier to build your savings once your DMP is over, as the money you used to put towards your debts will now be yours to do with as you wish.

For many of you, it’s clear that the experience of living on a DMP has made you realise the importance of having a budget – and sticking to it. Lots of comments talked about continuing to live within your means, post DMP.

‘Just hated feeling the way I did and love feeling that I am paying off what I owe’

It’s also clear from the comments that many of you want to avoid the stress and worry of being in financial difficulty and that you’re really committed to the idea of repaying what you owe and excited about the prospect of becoming debt free.

Whether you think you’ll borrow again post DMP, or never want to again, our aim is to provide you with information and support about the choices you can make, and help you build your financial confidence.

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

Articles home

Top of page

What solutions are available?
Complete the form and our friendly advisor will call you back to discuss the best way forward.

Your total debt?


Just a few more details before we calculate your results

Go to final step
Go to final step

We just need a few more details

Please remember, the form above is just an information tool. One of our advisors will be in touch to answer any questions you may have and offer you more personalised advice on how to resolve your debt problems.
About us

We've been helping people get out of debt for almost 20 years. Read more about what we do and the charities we support.

Read more
Fees & key info

Read more about the fees involved with each of the solutions we provide.

Download the Insolvency Service guide to dealing with creditors.

Read here for information about our Complaints Procedure and referring a complaint to the Financial Ombudsman Service.

Conditions Apply. Repaying your debt over a longer period of time can increase the total amount to be repaid. Your ability to obtain credit will be affected. Fees are payable when continuing service is provided.
Top 5 tips for
beating debt

Read our top 5 expert tips on how to beat debt and deal with your lenders.

Read more