Debt Advice

If you’re looking for some free help and advice on dealing with your debt, then you’ve come to the right place. Our debt advice guides are here to answer your many questions and offer you some helpful advice on how to deal with your debt.

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For more useful help and advice on dealing with your debt please feel free to continue reading some more of our debt advice guides below. All our debts guides are quick and easy to read, offering you clear help on debt, the effects of debt and what options are available to you.

More Debt Advice

3 tips for developing financial discipline

‘Self-discipline’ is a term whipped around by fitness experts, nutritionists, fashion addicts, technoheads and everyone in between. We all lack self-control occasionally, conquering particular...

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Administration orders – small debts still cause big problems

Any debt is problematic if you cannot afford to repay the amount you owe. It does not matter whether the amount is £5,000 or £50,000 as...

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What happens to my house on an IVA?

An IVA is usually seen as the last resort before bankruptcy and it comes with a lot of big changes and upheavals – one of which...

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What affects will a debt solution have on my credit score?

From debt management plans to bankruptcy, there are a surprising number of debt solutions to choose from. But how will a debt solution affect your credit...

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What happens after my IVA finishes?

Congratulations on successfully finishing your Individual Voluntary Arrangement (IVA) – you’re now a big step closer to becoming debt free! But what happens after your IVA finishes? Here are a few...

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What if my creditors don’t agree to an IVA proposal?

If you’ve applied for an Individual Voluntary Arrangement you’ll need 75% of your creditors to agree to your IVA. But what if your creditors don’t...

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What does an IVA cost?

As with most debt solutions, an IVA comes at a price. It’s very important to consider the costs, fees and charges associated with an IVA, as it can determine whether or not it’s the best option for...

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What happens to my IVA if I lose my job?

Getting let go from a job can happen to anyone at any time – but what happens to your IVA if you find yourself unemployed?...

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The difference between an IVA and debt management plan

Many people believe an Individual Voluntary Arrangement (IVA) and a Debt Management Plan (DMP) are effectively the same thing. But an IVA is more “final” than a DMP and a lot more serious. There is a difference...

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The difference between an IVA and bankruptcy

Although an IVA has very serious consequences, bankruptcy is the final stage. There are actually a few differences between an IVA and bankruptcy – here are some of the most...

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What can a creditor do if I can’t pay my debt?

You might have heard plenty of horror stories on how debt collectors enter people’s homes and demand large sums of money or take their possessions...

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What is the role of an insolvency practitioner in an IVA?

The Insolvency Practitioner (IP), usually a qualified accountant with expertise in insolvency law, is an integral part of the IVA process. They’re the...

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How will an IVA affect me?

An Individual Voluntary Arrangement (IVA) isn’t to be taken lightly – it’s a legally binding agreement involving you and your creditors. It’s designed to help you pay off debts and start your journey...

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What is a debt management plan (DMP)?

A debt management plan (DMP) can be a great alternative to clearing your debts without applying for an IVA or filing...

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How will a debt management plan (DMP) affect my credit score?

A debt management plan (DMP) can be a very effective and realistic way to become debt-free. Once you’ve cleared your debts and ensured your credit record demonstrates this...

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How to improve my credit score after an IVA?

Successfully completing your IVA is a huge step towards financial freedom and a debt-free life. But an IVA stays on your credit file for 6 years,...

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What are the benefits of an IVA?

An IVA should be one of the last resorts before bankruptcy – but it does come with several advantages. Here’s a few benefits...

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How does an IVA work?

An Individual Voluntary Arrangement (IVA) is a legally-binding agreement drawn up by an insolvency practitioner (IP). It’s between you and your...

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What are the risks involved with an IVA?

As with most things, Individual Voluntary Arrangements (IVAs) aren’t completely risk-free. There are many advantages, but there are also a few disadvantages of IVAs to take into consideration. An IVA itself...

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How will an IVA affect my credit score?

Anyone who has ever taken out credit, whether it’s for a phone contract or a mortgage, will have a credit score. It’s essentially...

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What is the best way to reduce my credit card debt?

Credit card debt is more common than you think. According to The Money Charity, the total credit card debt in the UK has reached £65.5 billion – that’s £2,426 per household! But there are a...

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What is an IVA?

An Individual Voluntary Arrangement (IVA) is one of the most popular ways to get rid of larger unsecured debt. Originally used...

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A beginner’s guide to personal loans

For many people, even those struggling financially, the idea of taking out a personal loan can be pretty daunting. But often a personal loan is a cheaper way of making large...

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Is debt consolidation a good idea if you’re struggling?

Getting out of debt can be really hard at times and it can often feel like an overwhelming task you have to overcome. So...

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Why you should use your savings to get you out of debt

Most people at one time or another will borrow money from a bank or a building society, whether in the form of a credit card, mortgage or personal loan. Did you know, however, that you could be needlessly in...

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Your guide to paying off debts: creditor arrangements

It’s an unfortunate fact of life that many of us will get into debt situations where we find it difficult to find a way out. If this happens...

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Got bad credit? Help is at hand

Link to source At the moment, the UK economy isn’t in the best of states, and thanks to the government’s acceptance of zero-hour contracts and apprenticeship schemes that fail to reward people...

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3 reasons why bad credit ruins your future

Finally you have saved enough money to buy your first home. You have filled out all the paper work and submitted everything...

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4 simple steps to being in control of your money

People of all incomes often find it hard to stay on top of their finances. Whether you’re looking ahead to the future with a specific financial goal in mind...

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Your guide to resolving debts: insolvency

In the first edition of our debt solutions advice series, we looked at credit agreements. If this wasn’t a realistic way...

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Debt charities you can turn to in times of need

Sadly, some individuals and families will find themselves with debt problems that can seem insurmountable at some time or another. Debt can be a lonely and stressful situation, leading to...

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Getting the best deal on a car loan

Buying a new car is a significant investment but often a necessary one: most of us need access to a vehicle for work and family life. If your car breaks down and you need...

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PPI: could you have a claim?

It’s been several years since the scandal surrounding mis-selling of payment protection insurance (PPI) surfaced and thousands of people in the UK still may be entitled to reclaim...

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Dealing with credit card debt

Credit card debt can seem like a black hole: with high interest rates, the amount you owe can escalate quickly and finding a way out may seem impossible. When it comes to paying for purchases, credit cards...

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How to avoid your overdraft

The role of a good money manager doesn’t end in saving money every month. A smart money manager is one who plans out a monthly budget, sticks to it and tracks each penny that is coming in and going out....

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Can I claim PPI back directly from the bank?

PPI always seems to be in the public eye and if you have had any loans in the past few years there is a good chance you may have money owed to you. You can claim back your PPI...

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How can I pay off my debts faster?

Paying off your debts is a fantastic and worthwhile goal to have, but when money is tight it’s not always...

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Things to look out for when taking out a short term loan

If you’ve ever been strapped for cash well before payday, you’ve probably been tempted by those ads offering quick, convenient, no-collateral payday loans. Payday loans can be immensely helpful if you’re short on funds and you’ve still...

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Can I earn overtime with an IVA?

If you currently have, or are considering an Individual Voluntary Arrangement (IVA) to help deal with your debt management, then there are terms...

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How will a payday loan effect my credit score?

It could affect your score in a few different ways, so it depends. Taking out a payday loan certainly shouldn’t hurt your credit. Let’s explore the scenarios: If you take out the loan and fail to repay...

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What credit score do I need for a payday loan?

There is no simple answer to this, firstly because you don’t actually have one specific credit score anyway – you actually have about three, one from...

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What are the best things to do to increase my credit score?

Improving your credit score is actually pretty easy, all you need to do is add new positive information to your credit file and avoid adding any negative information...

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How to improve your credit score after bankruptcy

Declaring bankruptcy should always be an absolute last resort, but in some situations it may be necessary and if you...

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10 tips to improve your credit rating fast

There’s a lot of information floating around already and sometimes it’s hard to digest it all and figure out an action plan. So this section serves just that purpose. Here are 10 simple, quick fire tips to set you on...

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How can car colour therapy save you money?

In the past, Italian car-makers Fiat produced a ‘colour therapy’ range for their Fiat 500 and not only do they make you look stylish, they can generate cash too. Valuable...

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Which loans carry the least risk?

When looking for a loan, it’s important to weigh up different kinds of risk. The level of risk attached to a loan can be thought of both in...

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How can I get out of debt?

More people than you think are struggling with debt – it’s nothing to be ashamed of. But how do you get out of it once you’re already...

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What is the lowest credit score possible?

This question can be a little too vague, since there is no unified, universal credit score per se – there are several credit reporting agencies and any lender is free to use whichever...

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How do I fix my credit score?

The problem with credit ratings is that in order to improve your score you need to use credit – and if your credit is really bad you will struggle to...

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How can I get a loan with bad credit?

Your credit rating is simply a record of your previous credit history and gives potential creditors an indication of how well you handle your debts so that they can judge how risky it would be to lend...

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What credit score do I need for a car loan?

Getting credit for a car is generally not as difficult as say getting a mortgage, but how difficult will of course depend on your credit rating and your income and to an extent who you look...

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Does an overdraft hurt your credit score?

In short, no. In the normal run of things an overdraft shouldn’t negatively impact your credit score. In fact, it is a form of credit...

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How to find the right borrowing option

If you are in need of credit, for whatever purpose, there are many options available to you. You can get yourself a credit card, take out a personal loan or extend the overdraft limit on your bank account. Not all...

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2 great ways to lower your monthly outgoings

There are so many nifty ways to save money in other parts of your life, but the two biggest are being savvy with your shopping and...

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How to claim back unfair bank charges

Bank charges usually only happen if you’ve broken through your overdraft limit. The average fee amounts to around £15, but can reach up to £35 in one go....

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What is a personal loan and is it right for you?

A personal loan is exactly what it sounds like, a loan which is intended for personal use. You can spend this on whatever you like, it can be for a car, home improvements or to pay off...

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IVA advice: a financial action plan

There are thousands of people in the UK currently living out a very lonely existence because of debt, but that experience can be further exaggerated if the debt is kept secret from loved ones.  If...

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Creative ways to deal with economic uncertainty

With disposable income at an all time low, UK consumers are looking for creative ways to save money so that...

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10 of the best debt advice tips

With the current economic conditions more challenging than ever, getting into debt is becoming a reality for many of us. If you should find yourself falling behind on payments, then following these 10 tips can help you to make sense...

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Get your business back in the black

We are all aware of that sinking feeling that is felt when debt begins to rise, leaving many with repayments that they simply cannot...

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The quickest way to pay off your debts

If you want to pay off your debt quickly, here is the best way that a lot of people use to become financially...

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3 questions to ask yourself before you sign up with a debt relief company

The only thing worse than dealing with the stress of debt is trying to figure out which debt relief company to call. There are so many companies who advertise on...

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How to deal with your credit card debt

Credit card debt is not as uncommon as you think – thousands of people in the UK are in some form of credit card debt. But not everyone knows how to deal with it. Here’s our quick guide...

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How to get a debt management plan for free

Being in debt can be full of competing priorities – who to pay and when, how much you can afford to pay on top of interest or simply to carry...

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Everything you need to know about debt consolidation

Managing finances is a necessary evil when you are faced with immovable debt. Debt consolidation is one avenue that an increasing number of people are turning...

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Student loans: What you should know

With the rising cost of university, studying beyond college is starting to become for the privileged only unless you are willing to rack up thousands of pounds of debt with little reassurance of a job when you graduate....

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In debt? Here are your options

At some stage in our lives, most of us are going to come up against debt – and if you’re there now, it can be easy to feel as...

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5 things you should know if you choose an IVA over a bankruptcy

An IVA or Individual Voluntary Arrangement and is often suggested to people as an alternative to bankruptcy in certain circumstances. If a debt management company ever...

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How to tackle your debt by increasing your income

If you have created a budget and you are really panicking about the level of debt you have or the length of time it will take you to be debt free, there are many...

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Unsecured loans vs secure loans

Taking out a loan is a massive personal finance decision that shouldn’t be taken lightly. If you decide to take out a loan then make sure you compare the different types of loan...

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What is the best way to consolidate your debts?

If rising debt has become a nightmare and it has become very difficult for you to handle your multiple debts, then you can...

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How to set personal finance goals for next year

Setting yourself something to aim for financially is incredibly important. Having a set of objectives that then lead to an...

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How to enjoy a debt-free Christmas

Christmas is a time we should all be able to enjoy ourselves by spending time with the family and enjoying good...

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Learn how to budget your money

Budgeting is a great way of taking control of your finances. Budgeting helps you to be fully in control of how much you...

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