What if I have a debt I cannot pay?

You have a number of options, including the following:

• Pay reduced and affordable payments
• Offer a lump sum
• Ask the lender to write off the debt
• Apply for a debt relief order
• Apply for bankruptcy

Not all of these options will be right for you, as it depends on your situation. The following things could affect your decision:

• Your income
• The amount of money you owe
• The type of debt you have
• The value of your home and other expensive belongings

You can get free advice on debt issues from National Debtline and StepChange. More information on these organisations including websites, phone numbers and opening times can be found in our next steps section.