I'm In Debt... Now What?


First and foremost, if you are in debt, you should speak to a qualified debt adviser.

This page provides a short summary of information relating to debt, however, it would be best for you to speak to an expert. You can locate and speak to a local debt adviser by visiting the Money Advice Service’s Debt Advice Locator page here.


Mortgage and Credit Card Arrears

If you are struggling to keep up with your bills and keep food on the table, speak to your bank. All banks and credit providers will be able to offer this but it is not underwritten by law.

If you unsure about how to go about asking for this, or simply want advice on how this may effect you existing debt, contact StepChange. They are the UK’s leading debt advice charity.


Speaking To Creditors

First and foremost, if you are in debt, you should speak to a qualified debt adviser.

One you have sought that professional advice, you may be recommended to contact those who you owe money. Citizen’s Advice have some great template letters for a variety of scenarios which could help you. If you are struggling to communicate your situation in your own words, these templates are a good first step:

Do the above letters not cover your specific situation?

National Debtline have dozens of template letters to cover all possible situations, relating to debt, that you may be in.


Useful Links

The National Debtline has produced a new factsheet here to help people understand what support is available to them in this situation.

Citizens Advice has also published useful advice on managing the potential disruption to your day-to-day finances, including more information on benefits and for  self-employed people. Click here to read more.

Other Online Services are:


Avoiding Being Exploited

At the Just Finance Foundation we’re aware that Loan Sharks and exploitative lenders have been using the Coronavirus period to target those most vulnerable, particularly those already in arrears. Not sure what a Loan Shark is? A Loan Shark is a lender who might:

  • offer little or no paperwork, such as a credit agreement or record of payments

  • refuse to give information, such as the interest rate or how much you owe

  • take items as security, such as passports, bank cards or driving licences

  • increase the debt or add additional charges at any time

  • refuse to allow you to settle your debt

  • get nasty - they might resort to intimidation, threats or violence.

For more information on how to spot and report a Loan Shark, click here.