| If you find that you are getting
into difficulty meeting your loan repayments then it is of the utmost importance
that you inform your loan company as soon as possible. This way the lender will
be more sympathetic to your needs and you will be able to try and sort out your
problems before they snowball. Your lender will offer you advice on how to proceed
and might well make arrangements for you to make underpayments until you get back
on your feet. You might also look to see if your loan is the most suitable for
your purposes and whether there are products on the market that could help - debt
consolidation loans for example. Remember however that if you do try to switch
loan types, your security / home is at risk if you do not keep up repayments.
In addition to the above there are also a number of voluntary organisations
in the UK that can offer you help you with specialist experience and advice. Below
is a list of contacts that can help with debt problems.
- The Consumer
Credit Counselling Service. A registered charity providing free debt advice.
Visit the website or telephone their hotline, 0800 138 1111.
- Debt
Questions. This useful website provides free and objective information to
people with debt problems.
- Citizens
Advice Bureau. You can visit the website to locate your nearest local office.
- Debt
Clinic. Either visit the website or telephone 0800 716239.
- National Debt Line. Telephone their free hotline on 0800 808 4000.
Read more about UK personal loans
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