How To

How to get debt advice

Paula John
Written By:
Paula John

Many thousands of people in the UK experience financial hardship at some point in their lives, through losing a job, being unable to work through illness or simply not being able to make ends meet.

If you are a mortgage borrower struggling to afford your monthly repayments, it is essential that you contact your lender as early as possible to discuss the matter with them. They are not ogres, and the last thing they want to do is repossess property. Repossessing property costs them time and money and they are unlikely to recover their money in full. They will try to work out a compromise solution where possible, often accepting lower payments for an agreed period of time while you get back on your feet.

For wider debt advice, there are many free sources available, including Citizen’s Advice, nationaldebtline.co.uk and the debtadvisorycentre.co.uk.