Free Debt Help and Debt Advice

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"Mike owed £15,040... He's now paying £255 a month instead of £500."
Mike

"Neil owed £30,526... He's now paying £255 a month instead of £908."
Neil

"Jessica owed £38,510.86... She's now paying £492 a month instead of £1272."
Jessica

Debt Advice

Personal unsecured debt in the UK currently stands at a massive £231bn.
Including mortgages and secured lending, this figure stands at an unbelievable £1,449bn. That's over 1.4 trillion pounds.
This figure currently grows by £1m every 7.3 minutes.

Unsecured debt includes credit cards, store cards, catalogue debts and overdrafts.

Debt becomes unmanageable when you become unable to pay it back at the agreed contracted amount and this is where the problems start.

What causes Debt?

Very few of our clients are in debt because they have been careless or reckless with their money. Most are hardworking individuals and couples who have become trapped in debt through unexpected reasons, such as loss of income through redundancy, illness or a reduction in overtime. Some have been tempted by the easy availability of credit and a growing family often puts additional financial strain on couples.

So what are the warning signs?

You may miss a few payments.
You can't afford to pay back more than the minimum amount each month
Using more credit to make repayments, by credit card (Robbing Peter to pay Paul)

This if unmanaged can turn into;

Creditors calling chasing for payments by letter and phone
Missed or late payment fees being frequently added, increasing the overall debt level
Increased personal stress and worry levels
Added pressure on personal relationships

Leading on to even more serious effects;

Creditors pursuing repayments of debts through the courts, ending in CCJs or bankruptcy
Physical and Mental Health problems caused by stress and worry, including depression.*
Relationship break up and divorce, often creating increased debt levels.

This section of the site provides information, articles and advice about the causes and effects of debt on individuals and families. It provides advice on staying out of debt and highlights how some people have been trapped in debt. Articles are dated and were correct at the time of publication.

Use our wizard to find the right debt solution for you

* NHS direct states that money issues are a common cause of stress.

The figures quoted on this page are from Credit Action's September 2008 report.

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