Payday Loan Debt Help & Advice
Get support with payday loan debt. Our advisors can help you evaluate your options so you can get your finances back on track.
- Write off 75%* of unaffordable debt
- One lower monthly payment
- Stop creditor hassle and bailiffs
- Access mental well-being services
Your credit rating may be affected if you opt for a debt solution.
Rated Excellent
100% FREE ADVICE
Get information today on your available options
Catalogue Debt Making Life Unmanageable?
A payday loan can seem like a simple way to bridge the gap, until the repayment leaves you short for the next month. Then the cycle starts again.
It’s easy to lose track of how much you owe or feel forced into borrowing more just to stay afloat. And when the pressure builds, it can affect everything from your sleep to your mental wellbeing.
If things are starting to spiral, we’re here to help you pause, reassess, and take a clearer path forward. Our advice is free, confidential, and always focused on what works for you.
As seen on:
We Help With Most Debts - Not Just Payday Loans!
*Mortgage debt can be included if you no longer own the property in question.
- Credit Cards
- Loans
- Overdrafts
- Store Cards
- Mortgages*
- Catalogues
- Council Tax
- Benefit Debts
- Utility Bills
- Payday Loans
Example Of An IVA
UNSECURED DEBTS
Your Monthly Repayments:
Find out for FREE what debt help is available to you
Subject to creditor acceptance. Payment subject to individual circumstances.
Credit Rating may be affected. Fees apply, subject to individuals circumstances.
Reasons To Choose PennyPlan
- Stop all interest & charges
- Write off debt
- Access well-being services
- Reduce monthly payments
How To Deal With Payday Loan Debt
Payday loans are meant to be quick fixes, but when repayments are missed, the debt can grow fast. Interest builds daily, late fees add up, and borrowing again to cover the gap can leave you stuck in a cycle that’s hard to break.
If that cycle is affecting your finances or mental wellbeing, there are ways to regain control. Formal debt solutions like a Debt Management Plan (DMP), Individual Voluntary Arrangement (IVA), or Debt Relief Order (DRO) are regulated options that can reduce what you owe, stop further charges, and give you legal protection from creditor contact.
At PennyPlan, we’ll explain how each option works, what you might qualify for, and whether it could help ease the pressure for good.
Payday Loan Repayment Plan Options
Understanding how to deal with payday loan debt is the first step towards regaining control. Our aim is to help you find a solution that eases the pressure and gives you a clear route forward.
What works best depends on your circumstances, which is why one of our friendly advisers will take the time to talk through what you owe, what you can afford, and what options are available.
IVA
Individual Voluntary Arrangement
An IVA consolidates debts into one affordable plan, with a portion of payday loan debt potentially written off.
DMP
Debt Management Plan
A repayment plan that combines debts into one monthly payment. Interest can be reduced or frozen, helping ease financial pressure.
DRO
Debt Relief Order
A debt reduction programme for those on low income. Certain debts can be cleared, with no ongoing payments required during the DRO.
Find Out For FREE What Debt Help Is Available To You
Get Help With Payday Loan Debt Today
We’ve helped people across the UK take control of their debts and get their lives back on track. Our trained advisers will assess your individual situation and guide you towards the best way to manage and resolve your finances.
Do I Qualify
For an IVA?
100% FREE ADVICE
Get information today on your available options
Find A Way Out Of Payday Loan Debt
When payday loan repayments start eating into your essentials or feel impossible to keep up with, it’s time to pause and reassess. This isn’t just about money, it’s about your peace of mind.
At PennyPlan, we’ll help you make sense of your situation and talk you through what real support looks like.
You don’t have to keep going in circles. Let’s find a better way forward, get in touch today.
- One lower monthly payment
- Write off 75%* of unaffordable debt
- Freeze interest & charges
- Stop legal action including bailiffs
- Receive FREE well-being sessions
What Happens When Payday Loans Go Unpaid?
Payday loans are designed to be repaid quickly, so if you miss a payment, the consequences can escalate faster than with other types of borrowing.
Interest and charges can stack up daily, often making the amount you owe much higher than what you originally borrowed. If payments aren’t made, your account may be marked as defaulted and passed to a debt collection agency.
Some lenders may increase contact through texts, emails, or phone calls, and if the debt remains unpaid, they could take court action. This might include applying for a County Court Judgment (CCJ), which can seriously affect your credit profile.
The earlier you speak to someone, the more options you’ll have to stop the debt from spiralling and get back on steady ground.
Tackle Your Debt And Your Mental Health In One Place
Our team are committed to getting your finances and well-being back in top condition
Apply for our eligibility check
Find out if you match the minimum criteria we require to enter you into one of our IVA plans
Speak to our debt specialists
Speak to our friendly debt specialists, who will explain all the options available to you.
Choose your debt solution
Now you have all the options available, you can make an informed decision that is right for you and your family.
Do I Qualify
For an IVA?
What Our Customers Say About Us
Maria
3 days ago
PennyPlan were extremely professional and genuinely caring, I am very happy that I made the call and now have a plan in place and peace of mind. From the first contact to the signing of the agreement it was straight forward and simple plus the staff really are exceptional in the way they listen and understand’ I couldn’t have asked for a better company.
Emily
4 days ago
For over a decade I have kept my money worries to my self away from friends and family one phone call with Leah and I had laid it all bare without a second thought nothing shocked her and nothing wasn’t sortable I’m forever grateful I stumbled across this company and no longer have to worry about money on my own. Highly recommend!!
Daniel
4 days ago
PennyPlan offered insightful, professional and empathetic support throughout my insolvency. Declan in particular was friendly, personable and knowledgeable, and a massive help throughout the process. They offer a no pressure service and allow you to make the best decision for yourself. I highly recommend these guys for anyone struggling with debt.
Mark
1 week ago
I was hesitant in applying for an IVA, But my mind was put at ease on the first call. The whole process was explained to me with complete care and understanding and I didn’t feel judged at all. Since being accepted for the IVA my mental health has improved so much and I now don’t worry about how I am going to put food on the table each week.
Payday Loan Debt FAQ’s
Payday loan debt happens when you borrow money from a short-term lender and struggle to repay it in full on time. Because interest rates are often very high, the debt can grow quickly if not paid back immediately.
Yes, they can. If payments are missed and you don’t respond, your account may be handed over to a debt collection agency. You’ll usually be warned first, but it’s best to act early and get help before this happens.s.
Yes. Missed or late payments are reported to credit reference agencies and can lower your score. A lower score can make it harder to get credit in the future. However, using a formal debt solution may help protect your finances from further harm.
In some cases, yes. If you’re eligible for an IVA or DRO, a portion or even all of your payday loan debt could be written off after a set period. We can help you find out if this is an option for you.
If you’ve only missed one payment, it might be worth contacting them to ask for a short-term payment plan. But if you’re feeling overwhelmed or dealing with multiple debts, speaking to a regulated debt adviser can give you a clearer, more sustainable solution.
