About Debt

Understanding personal debt causes, consequences and solutions in the UK. Articles cover bankruptcy, IVAs, credit impacts, mortgage issues and government policies affecting borrowers.

Government Policy: Is Bankruptcy Easier Than an IVA?

Compare bankruptcy and IVAs to see which debt solution might work better for your situation now that government rules are changing.

How Bad Is Debt in the UK?

UK debt levels have hit record highs due to rising interest rates and overspending, leaving more people struggling to cope.

How Do People Get Into Debt

Debt can happen to anyone through missed payments, overspending or the pressure to buy things immediately rather than save.

How Has the Credit Crunch Affected Debt in the UK?

The credit crunch tightened UK lending and left many borrowers struggling with increased debt and stricter mortgage requirements.

If I Get Into Debt Can I Get Credit in the Future?

Your past debts won't necessarily stop you getting credit in the future, but the type of debt and how you dealt with it matters.

Is Debt Becoming More and More Common?

More UK consumers are sliding into debt because credit is too easy to access and the culture of buying now has replaced saving up.

The Debt Calendar

Rising interest rates and seasonal spending make UK debt worse at certain times of year, especially Christmas and summer holidays.

UK Cost of Living and Hidden Personal Debts

Rising living costs are pushing more UK households into hidden debt they won't even tell their partners about.

What Is a Credit File?

Your credit file is a record of your financial history that lenders check before deciding whether to give you credit.

What Is an ERO?

Enforcement Restriction Orders let people in severe debt pause payments temporarily while they recover financially.

What Is Bankruptcy?

Bankruptcy is a drastic debt solution with serious consequences that can affect your finances for years.

When My Mortgage Deal Expires, What Can I Do

Your mortgage deal is ending soon—here's what your options are when rates have gone up.

Why Is Debt Such a Problem in the UK?

UK debt has hit record levels driven by a culture of overspending on luxuries rather than financial hardship alone.

Will the Credit Crunch Affect My Debt?

How the credit crunch impacted UK debt levels and what it meant for borrowers struggling with mortgages and loans.