Dealing with payday loan debt

Consolidate Into One Payment

You may be able to arrange a payment plan to pay off what you owe to the payday loan company. Also there is free debt help you can look at too.

Freeze Interest & Charges

Ignoring debt can be a temptation for people when money gets tight, and the longer you leave these debts the more charges tend to be added.

Don't Ignore The Lenders

The best way to get rid of a debt is to pay it. Ignoring a debt isn't going to make it go away, and there're debt solutions out there for anyone.

Get Free Debt Advice

We can provide free help and advice if you're struggling with payday loan debt.Also we can help you with most unsecured and court debts.

Consolidating Payday Loans

If you’re struggling with payday loans it is probably a sign that you need help, particularly if you have more than one loan. Trying to borrow your way out of debt will only make you situation worse and we’d never recommend that you take out a payday loan to pay your debts. With that being said there’s debt consolidation plans available that are designed to help people in this type of situation to pay back what you owe at an affordable rate.

Payday Loan Debt Help

Rolling Loan Over

Your payday lender might suggest that you roll over your loan for another month or so. This means you have to pay even more charges and interest, so you end up owing much more money. What you should do instead is seek debt advice and agree a repayment plan that you can afford with the lender on both your terms.

Agreeing A Payment Plan

Payday loan payment plans can be done either directly through the payday loan company or through a debt help company. Either way agreeing a payment plan that your happy with until the debt is paid is the main thing you want to achieve out of this.

See If You Qualify To Get A Percentage Of The Debt Written Off

There are schemes available that might help to get a percentage of the debt written if you qualify for government legislation. Your unsecured debt level would have to be at least £5,000 for us to apply for this scheme for you.

Find Solution To Deal With Debt

Free Debt Management Plans

Debt Management Plans are available across the UK. So regardless of where you live in the UK, if you’re struggling to keep up with payments to your debts. Also a DMP could help you to get your financial situation back on track.

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Debt Consolidation Advice

Consolidating debt usually involves taking out new credit to pay off existing credit. Most people do this to reduce the interest rate on their debt, and to bring down their monthly payments. Also people consolidate to reduce the number of companies they owe money to each month.

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Individual Voluntary Arrangement

An Individual Voluntary Arrangement (IVA) is an agreement with your creditors to pay all or part of your debts. You can agree to make regular payments to an insolvency practitioner, who will divide this money between your creditors as well as clear any remaining debt at the end of IVA.

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Debt Relief Order Advice

A debt relief order can be a low cost alternative to bankruptcy, but is only available to certain people as a criteria. If you owe than £20,000 and live in England, Wales or Northern Ireland then there is a chance you qualify. You don’t pay anything towards your debts for 12 months and the debt is written off after this too.

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Protected Trust Deed

A trust deed is a legally binding arrangement in Scotland where you make reduced payments over 4 years. Also at the end of this your unsecured debts are usually written off, and your debt show as paid.

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