There are lots of different factors to consider when giving the best debt advice, including how much you owe and to how many creditors, whether you own a home, what type of debt it is (eg. secured or unsecured) and much more.
We have tried to lay out in the most clear and concise manner when each kind of debt solution is most appropriate, what the advantages and disadvantages are, and how they work. We strongly recommend that you contact our experienced Debt Counsellors for expert debt advice before you make any decisions though, it's a free service and you can get in touch for free as well!
We have tried to lay out in the most clear and concise manner when each kind of debt solution is most appropriate, what the advantages and disadvantages are, and how they work. We strongly recommend that you contact our experienced Debt Counsellors for expert debt advice before you make any decisions though, it's a free service and you can get in touch for free as well!
Debt Advice 
The debt solutions that are
available include:
available include:
Types of Debt
There are lots of different types of debt, and it is important to prioritise some kinds over others due to the consequences of not paying. For example, any secured loans will have to be paid or you risk losing the property that they are secured against.If you would like free, expert debt advice on any of these matters then get in touch with DebtAdvice.net. Our experienced Debt Counsellors are used to dealing with all sorts of debt problems and coming up with the best solutions.
This section will go over the main types of debt that you can accrue but there are too many to go over all of them here. If you have debt which is not covered here, then you can still get in touch for free impartial advice on debt of any other kind.
UNSECURED
What is Unsecured Debt?
Unsecured debt means debt which is not secured against any of your property. This is the kind that can be dealt with by Debt Management Plans and other debt solutions.
This includes:
Credit card debt,
Unsecured loans,
Bank overdrafts, and
Utility bills.
If you are unsure whether your debt is secured or not you can check the original loan agreement. If you do not have that anymore, or you cannot find it, then request a copy to be sent from your creditor.
It is important to not however that any sort of debt, if you do not pay, could end up being paid for by having your possessions repossessed. If the creditors of an unsecured loan get a CCJ issued against you and you do not keep up with these payments, then they may request bailiffs take your property. For more information on this see the section on “Bailiffs” in “Debt and Law”.
If you are struggling to pay unsecured debt then there are a number of options available to you, get in touch for free debt advice on these options, or read our section on “Debt Solutions”.
Unsecured debt means debt which is not secured against any of your property. This is the kind that can be dealt with by Debt Management Plans and other debt solutions.
This includes:
Credit card debt, Unsecured loans, Bank overdrafts, and Utility bills.If you are unsure whether your debt is secured or not you can check the original loan agreement. If you do not have that anymore, or you cannot find it, then request a copy to be sent from your creditor.
It is important to not however that any sort of debt, if you do not pay, could end up being paid for by having your possessions repossessed. If the creditors of an unsecured loan get a CCJ issued against you and you do not keep up with these payments, then they may request bailiffs take your property. For more information on this see the section on “Bailiffs” in “Debt and Law”.
If you are struggling to pay unsecured debt then there are a number of options available to you, get in touch for free debt advice on these options, or read our section on “Debt Solutions”.
CREDIT CARDS
How to Deal with Credit Card Debt
One of the most common ways that people get in to trouble with debt is when using credit cards. If you do not pay off the balance every month then you can accrue charges and interest rates can be increased to an unmanageable level.
There are a number of plans available for dealing with credit card debt. If you are having trouble paying off credit cards, get in touch for free debt advice.
One of the most common ways that people get in to trouble with debt is when using credit cards. If you do not pay off the balance every month then you can accrue charges and interest rates can be increased to an unmanageable level.
There are a number of plans available for dealing with credit card debt. If you are having trouble paying off credit cards, get in touch for free debt advice.
CONTACT US
Whatever your debt problems may be, there is always a solution. The worst thing you can do is ignore the problem, it is not going to go away on its own. It's always a good idea to speak to your creditors and be honest about your situation.
Alternatively our experienced Debt Counsellors can do that for you if you wish, and we can also provide you with expert debt advice.
Alternatively our experienced Debt Counsellors can do that for you if you wish, and we can also provide you with expert debt advice.
SECURED
What is Secured Debt?
Secured debt is secured against property you own, usually your home. Secured loans can be attractive because they often come with lower interest rates, however that is because the risk for the loan switches from your creditor to you. If you cannot keep up with your repayments then the property the loan is secured against can be repossessed and sold to cover the debt.
Secured debt includes:
Mortgages,
Secured loans.
For free debt advice regarding secured debt, get in touch with our experienced Debt Counsellors.
Secured debt is secured against property you own, usually your home. Secured loans can be attractive because they often come with lower interest rates, however that is because the risk for the loan switches from your creditor to you. If you cannot keep up with your repayments then the property the loan is secured against can be repossessed and sold to cover the debt.
Secured debt includes:
Mortgages, Secured loans.For free debt advice regarding secured debt, get in touch with our experienced Debt Counsellors.
DEBT SOLUTIONS
What Debt Solutions are Available?
There are a number of solutions to debt problems, and you can read about a number of them in our section, “Debt Solutions”. These mostly deal with the unsecured debt that you have, and often involve your only having to pay what you can afford towards the debt each month.
These include:
Informal Arrangements,
Debt Management Plans,
Debt Relief Orders,
IVAs.
For more information, you can speak to one of our Debt Counsellors for free to receive advice on debt.
There are a number of solutions to debt problems, and you can read about a number of them in our section, “Debt Solutions”. These mostly deal with the unsecured debt that you have, and often involve your only having to pay what you can afford towards the debt each month.These include:
Informal Arrangements, Debt Management Plans, Debt Relief Orders, IVAs.For more information, you can speak to one of our Debt Counsellors for free to receive advice on debt.
TAX
How to Deal with Tax Debt
Paying taxes, along with secured debt, has to take priority when you are having debt problems. That's because the government can get authority to have your possessions taken away to pay for the debt, or in extreme cases you might even receive jail time.
If you are struggling with tax payments, get in touch for free debt advice. It is sometimes possible to work out a deal with local authorities if you are not able to pay the full amount, or your debt problems may be fixed through budgeting solutions.
Paying taxes, along with secured debt, has to take priority when you are having debt problems. That's because the government can get authority to have your possessions taken away to pay for the debt, or in extreme cases you might even receive jail time.
If you are struggling with tax payments, get in touch for free debt advice. It is sometimes possible to work out a deal with local authorities if you are not able to pay the full amount, or your debt problems may be fixed through budgeting solutions.