I need help with my debts – what should I do?

Couple on the phone looking at laptop screen

Seeking debt advice can seem like a minefield with the multiple debt solutions out there; especially if you’ve never been in debt before or haven’t had to think about what debt help is available.

To make getting debt help a little less overwhelming, you might want to approach it in stages, that way you can set a goal to work towards.

We’ve made a simple, three-step guide below to help you navigate your way through getting debt help:

Step One – Get organised

Make a list of your debts – who you owe to, balances, interest rates & monthly repayments.

Check your credit file – this may show any debts you’ve forgotten. Try to get a statutory report from the 3 agencies – TransUnion, Equifax & Experian. Look here for more details.

Check if you qualify for any benefits to boost your income – the GOV website contains some useful info.

Can you reduce your bills? – use websites such as Uswitch or MoneySuperMarket to check for cheaper options.

Make a list of your monthly income & outgoings – also consider the less frequent expenses such as car bills and gifts.

Step Two – Get debt help

Decide how you’d like to get help – would you rather have a chat with a debt advisor or enter your details into our online debt advice tool?

Think about your options – get in touch with your debt advisor to ask any questions, read the paperwork sent to you, or look here for more info.

Apply for your solution – you may decide right away that the solution offered is best for you. Speak with your debt adviser or apply online to progress.

Work on your supporting documents – each solution requires different information; this will be confirmed when you apply. Send it as soon as possible to get your solution set up promptly.

Step Three – Enjoy the relief

Each solution will have its own benefits. It could be litigation prevention, lower monthly payments, frozen interest and charges, taking control of your finances, or reducing the burden that debt brings, we’re sure that after seeking debt advice, you’ll feel some sense of relief.