HSBC Accept Debt Management Plan (DMP)
Here is HSBC’s letter accepting reduced payments in a DMP
31 December 2013
Re: NAME ADDRESS
Beneficial Finance Credit Card Number: NUMBER
We are prepared to accept your proposal on behalf of NAME for reduced payment of £13.00 per month for a maximum period of 12 months. The first payment must be received and credited to the account within 30 days from the date of this letter.
No interest or admin charges will be applied to the account of this arrangement is in force.
Should our customers circumstances change before the review date we must be advised immediately and we would be provided with a revised financial statement and payment proposal.
If, after this arrangement has expired, you want the arrangement to be extended we shall require a revised financial statement will stop Should this not be forthcoming we will contact the customer direct for repayment of any arrears.
If you have any queries, please contact one of our advisers on 0870 010 8516
So as you can see a Debt Management Plan can be achieved even with a major bank, not just collection agencies.