More debt is not always the answer, it maybe time to get financial. help
Please don't despair
One of the most common problems with debt is that circumstances change, and those circumstances are often outside the control of the borrower. Even with short-term loans of less than 12 months, people's worlds can be turned upside down. Lenders price these potential problems into their interest rates.
Things often seem worse than they really are, and people can find themselves in tricky financial positions. However, there are worse things in life than a lender not getting their money back. The first thing to do is not panic; it won't benefit the lender, and it certainly won't benefit you. The second thing to do is to keep in contact with your lender. They are willing to work with you as long as you keep in touch.
If you feel that you are unable to cope and things are getting on top of you, there is independent help available. Below is a table of the three largest debt help organisations in the UK. Since advice can change frequently, we refrain from detailing their methods, but we are confident that if you are struggling with debt, these organizations can assist you. Lenders listen to their recommendations and will collaborate with them to find a solution that benefits everyone.
You are not alone in your troubles; help is available.
Organisation | When | Contacts Details | Hours of Help | Advice/Services | Where |
|---|---|---|---|---|---|
STEP CHANGE DEBT CHARITY | You've got surplus income once your priority debts are paid and prefer an adviser to negotiate with creditors on your behalf. | www.stepchange.org T: 0800 138 1111 | Mon to Fri 08:00 to 20:00; Sat 08:00 - 16:00 | Debt Management Plan and insolvency advice Online Debt Remedy self help tool | UK |
NATIONAL DEBTLINE | You'd like advice on how to deal with debt problems and you're happy to speak to creditors yourself. | www.nationaldebtline.co.uk T: 0808 808 4000 | Mon to Fri 09:00 to 21:00; Sat 09:30 to 13:00 | Budgeting, debt solutions and free self-help information pack National Debt Helpline - online self-help tool | England, Scotland & Wales |
CITIZENS ADVICE BUREAU | You're in serious financial difficulties and you’d prefer face-to-face help from an adviser. | www.adviceguide.org.uk Face to face – search online for local Citizens Advice Bureau | Times vary depending on branch | Advice on managing your money Budget planner | UK |
