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Support and advice about managing your existing credit commitments.

First published:
18 November 2022
Last updated:

Banks, credit cards and loans

If you are unable to keep up with your credit payments, your creditors may agree to a short term payment holiday. You can request this, but creditors do not have to agree. Missed payments will usually be treated as arrears and interest may continue to be added.

If you are concerned about loan or credit card payments, you should contact your provider immediately. They may be able to offer you support.

In May 2021, the UK Government introduced the Debt Respite Scheme (Breathing Space). The scheme can give someone, in problem debt, legal protections from their creditors. To access Breathing Space you will need to talk to a professional debt advisor.

Affordable credit

If you are struggling financially and looking to borrow you should always make sure it is from an ethical lender. 

Credit unions will only lend what you can afford. This helps to avoid further unmanageable debt.

They are good for those who find it difficult to borrow from banks due to having a poor credit history.

Advice and support

There are organisations who can give help and support if you are struggling with debt and the cost of living.