Debt Management Plan (DMP) – By the standard financial definition this involves a designated/invited third party assisting a debtor with repayment of his or her debt by setting up a structured repayment plan. In simple terms a comprehensive income and expenditure exercise is undertaken by the third party to establish what disposable income is available to repay the debt. This is then divided between the creditors at an agreed level until the debt is repaid. This is an informal agreement between a debtor and his or her creditors.