Debt repayment plan A debt plan involves various default repayment methods available for indebted subjects. The debtors can be either individuals with consumer debt, or business organisations with corporate liabilities. In both cases there are non-government organisations that offer different strategies for clearing outstanding default amounts. A debt plan can consist of debt management and debt management plans, debt settlement & consolidation plans, etc. All schemes for clearance of defaults represent various agreements between two parties: first party- the lender and second party- the borrower.