This is a troubling time for many and if you’re worried about getting into debt, or are already in a debt plan, there are charities that can offer help and advice.
What about persistent debt notices?
Persistent debt notices are sent to credit card customers who have paid more in interest and charges than they have paid off on their balance. In the notice, you’ll be asked to pay more or risk losing the card.
If you’ve been sent one of these notices but can’t increase payments right now, the Financial Conduct Authority has relaxed the rules, meaning customers don’t need to respond until the beginning of October. But, you should contact your lender if you’ve received one and are worried about increasing payments now.
I’m worried about getting into debt
Debt charity Stepchange offers free help and advice to those struggling. They can guide you through sensitive matters, and have a host of information on their website about debt and coronavirus.
Their phone lines are still open but there are less staff working, so bear this in mind when calling.
Visit the Stepchange website
Citizens Advice is also available to give free and confidential advice. They cover a range of issues, including debt. As well as guides and information online, you can talk to someone online and over the phone, though this may take longer than usual at the moment.
Visit the Citizens Advice website