Loan Debt Help & Advice
Loan repayments building up? PennyPlan offers free, confidential advice to help you deal with arrears and find a clear path forward.
- 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.
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Get information today on your available options
Worrying About Loan Repayments?
Taking out a loan is often a practical way to manage larger costs, but if your circumstances change, those fixed monthly repayments can quickly become difficult to maintain. Missing installments leads to arrears, late fees, and a growing balance that’s harder to bring back under control.
If you’ve fallen behind, you may already be receiving letters, calls, or default notices from your lender. In more serious cases, loan arrears can be passed to debt collectors or even lead to legal action.
At PennyPlan, we’ll help you understand your rights, deal with creditor pressure, and explore proven debt solutions designed to make your repayments more manageable. Our advice is free, confidential, and focused on putting you back in control.
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We Help With Most Debts - Not Just Loan Repayments!
*Mortgage debt can be included if you no longer own the property in question.
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
Exploring Your Options With Loan Debt
Loan arrears often build gradually, a few missed installments, a change in income, or rising living costs that make fixed repayments harder to manage. Once you fall behind, interest and charges can push the balance up quickly, leaving you feeling stuck.
The good news is there are formal debt solutions that may help. Depending on your situation, unsecured loans can often be included in a Debt Management Plan (DMP) Individual Voluntary Arrangement(IVA), or Debt Relief Order (DRO). Each of these options is designed to reduce financial pressure by lowering payments, freezing interest, and setting out a clear route towards becoming debt free.
Loan Debt Repayment Plans
Managing loan arrears can feel overwhelming, but the right solution can make repayments affordable and reduce the stress. Our advisers will explain your options clearly and help you choose the best way forward.
IVA
Individual Voluntary Arrangement
An Individual Voluntary Arrangement (IVA) combines debts into one affordable monthly payment. Loan balances may be reduced, with some written off at the end.
DMP
Debt Management Plan
A Debt Management Plan (DMP) allows you to repay loan arrears in smaller installments. Interest and charges are often frozen to make progress easier.
DRO
Debt Relief Order
A Debt Relief Order (DRO) is designed for people with low income and few assets. Eligible loan debts can be cleared after 12 months with no further payments required.
Find Out For FREE What Debt Help Is Available To You
Get Help With Loan Repayments 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?
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Get information today on your available options
Get Help With Loan Debt Today
Loan arrears can quietly build until they start affecting every part of your life, from day-to-day budgeting to peace of mind. The sooner you act, the easier it is to take back control.
At PennyPlan, our advisers will listen to your situation and guide you through the debt solutions that best fit your needs. All advice is free, confidential, and focused on easing the pressure so you can move forward with confidence.
Take the first step and talk to our team 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 If You Don’t Pay Loan Debt?
When unsecured loan repayments are missed, arrears start to build quickly. Lenders will usually contact you after the first missed installment, and late payments are recorded on your credit file, lowering your credit score.
If arrears continue, the lender may issue a default notice and could pass the account to a debt collection agency. In more serious cases, they may apply for a County Court Judgment (CCJ) to recover the money owed.
Taking action early gives you more control. Speaking to PennyPlan can help you understand your rights, deal with creditor pressure, and explore debt solutions before the situation escalates.
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.
Loan Debt FAQs
Yes. Most unsecured loans can be included in solutions like a Debt Management Plan (DMP) or an Individual Voluntary Arrangement (IVA).HMRC, or your local council. Even if the overpayment wasn’t your fault, they will usually ask for repayment.
Missed payments and defaults are recorded on your credit file and can reduce your score for up to six years.
In some cases, yes. An IVA or a Debt Relief Order (DRO) may allow part of your loan debt to be written off, depending on your circumstances.
If arrears continue, lenders can apply for a County Court Judgment (CCJ) to enforce repayment.
PennyPlan offers free, confidential advice to help you manage loan arrears and explore the best solution for your situation..