It looks like you could be Starting to Lose Control
Based on what you’ve told us, you may be:
- Missing payments & struggling to budget
- Starting to hear from people you owe money to
- Vulnerable to a financial crisis from life events
What Happens Next
Now that we know a bit more about you, we’d like to help you get on top of your finances.
Wellness Check Status
Action Plan
Monthly Check-in
Interested in an IVA? You can trust us
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*Companies within the UK Debt Expert group.
Understanding Your Status: Starting to Lose Control
You may be beginning to feel the weight of your financial situation. While you’ve managed your money in the past, things are potentially starting to slip. Maybe you’ve missed a few payments, or your credit score has taken a hit. You’re starting to think that you might have a problem, and need a steer on the best way to get ahead of it.
Common Challenges:
Awareness vs. Denial:
You know there’s an issue but aren’t sure it’s serious enough to seek help.
Confusion and Overwhelm:
The options available can be confusing, and you may not know where to start.
Fear of Harassment:
Increased communication from creditors can be stressful and unfamiliar.
Motivations:
Taking Control:
You want to regain control of your finances without committing to professional advice just yet.
Reducing Stress:
Minimising financial stress is important to you, especially as the end of the month approaches.
Confidentiality:
You want to explore your options privately, without judgment.
Action Plan
- Consider Using Breathing Space to get some immediate relief.
- Sort Out Your Priority Debts and understand what needs your attention first.
- Familiarise Yourself with Debt Solutions so you’re prepared when you’re ready to take action.
How you benefit from free debt advice
Talking about your debt might seem scary, but debt advice can help you in so many ways.
Non-judgemental advice
You may feel like you’re dealing with debt alone, but we help people struggling with debt every day. Your advisor won’t judge, they’re there to help.
Free professional support
We’re equipped to give support, guidance, and advice on UK debt solutions. You’ll get the support you need from a trained debt expert.
A personalised debt plan
You’ll get a plan tailored to your situation. It could see you write off all of your debt, part of it, repay it affordably, or offer help with budgeting.
Wondering what to expect from your free debt advice call?
We’ve covered everything you need to know in this article.
Mark’s Story
Reason for debt: Mark was overwhelmed by household debts, including rent arrears and electricity bills.
Main concerns:
Faced with the prospect of losing his home, living on his own, Mark didn’t feel like he had anyone to turn to. Eventually the pressure became too much and he decided to seek help.
Solutions qualified for:
Individual Voluntary Arrangement (IVA), Debt Management Plan (DMP)
Solution chosen:
Individual Voluntary Arrangement (IVA)
Reason why:
Mark reached out to UK Debt Expert for free, confidential advice. The advisor created an affordable, sustainable budget and discussed all options. Mark chose an IVA to make monthly payments based on his affordability, allowing him to better manage his money each month.
“If you’re struggling, don’t give in. You’re not the only person on the planet feeling like this and there are people out there to help, but you need to go to them , they won’t go to you.”
*Anonymised
Get Advice on All UK Debt Solutions
UK Debt Expert advises on a wide range of options, including those below.
General debt advice
The key to debt advice is providing tailored guidance and support to people struggling with debt. Advisors can help you understand your financial situation, explore debt solutions, and create a plan to manage your finances. This advice might include budgeting tips, debt repayment strategies, and information on more debt solutions.
Individual Voluntary Arrangement
An Individual Voluntary Arrangement (IVA) is a formal agreement between an individual and creditors to repay debts over a set period, typically five or six years. You make affordable payments during this period, and at the end of the arrangement, any remaining debts are written off.
Debt Management Plan
A Debt Management Plan (DMP) is an informal debt solution for people struggling to repay unsecured debts. It combines multiple debts into a single, manageable monthly payment, which provides a structured path to debt repayment. It can also reduce interest and charges on included debts.
Trust Deed
A Trust Deed is a legally-binding debt solution for people who can’t repay unsecured debts. It involves making monthly payments for a period of four years, with the goal of repaying a portion of the debt while being protected from legal action. Remaining debts are written off at the end of the arrangement.
Debt Arrangement Scheme
Minimal Asset Process
The Minimal Asset Process (MAP) is a simplified bankruptcy procedure available in Scotland for people with low income, minimal assets, and unmanageable debt. If you qualify, you can have your debts written off after a relatively short period, typically six months, without the need for ongoing payments.
Our experts will only recommend a solution if it’s right for you. The best way to find out is by getting free debt advice.
Our experts will only recommend a solution if it’s right for you.
The best way to find out is by getting free debt advice.
Frequently asked questions
Will a debt solution affect my partner?
Not usually. If the debts are solely in your name, your partner’s credit file or finances shouldn’t be affected. However, if you have joint debts or shared financial agreements (like a joint loan or mortgage), your partner may be impacted. It’s important to speak to your advisor to understand your specific circumstances.
Should I still pay my creditors?
Yes, you should continue making payments to your creditors until your debt solution is agreed and in place. Missing payments before then could lead to additional interest, charges, or enforcement action. Once your solution starts, payments will usually be made through your provider.
Will entering a debt solution affect my credit rating?
Yes, most debt solutions will have a negative impact on your credit file and will be recorded for six years. However, if you’re already behind on payments or struggling with debt, your credit score may already be affected. A solution can help you take control and work towards rebuilding your credit over time.
If I enter a debt solution, can I still have a phone contract or vehicle finance?
You may still be able to get a mobile phone contract or vehicle finance, but it could be more difficult. Lenders may see you as higher risk, so your options may be limited or come with higher interest rates. It’s best to speak to your provider before taking on any new financial commitments.
Will I need to pay any fees?
All advice provided by UK Debt Expert is free. However, some debt solutions do include fees, and will be explained in full before you commit.
Will entering a debt solution affect my job?
In most cases, no. However, some professions—particularly in finance, law, or roles requiring security clearance—may be affected. Check your employment contract or speak to your HR department if you’re unsure.
What is an unsecured debt over a secured debt?
Unsecured debt is borrowing that isn’t tied to an asset, such as credit cards, personal loans, or overdrafts. Secured debt, like a mortgage or car finance, is linked to an item that the lender can reclaim if you fall behind on payments. Most debt solutions only cover unsecured debts.
How much debt could I write off with an IVA or a Trust Deed?
It depends on your individual circumstances. Some people can write off a significant portion of their unsecured debt—sometimes up to 80%—but this varies based on what you can afford to repay over the term of your plan and is subject to creditor approval. A qualified advisor can help you understand what might be possible for you.