Lloyds Debt Advice & Support
Are you struggling to deal with Lloyds debt? We can help. At PennyPlan, our team will listen to your situation and help you find the best pathway towards financial stability.
- 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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Struggling With My Lloyds Debt – What Are My Options?
If your Lloyds credit card or loan balance has become difficult to manage, you’re not alone. Rising living costs have made it harder for many people to keep up with monthly payments, and even small missed installments can start to add pressure.
When payments fall behind, Lloyds may add interest or late fees, and in some cases, pass the debt to a collection agency. That can sound worrying, but it doesn’t mean you’ve run out of options. With the right support, it’s possible to stop things from escalating and regain control.
At PennyPlan, our advisers take time to understand your full financial situation before suggesting any next steps. That includes looking at your income, other debts, and what kind of support you need to get your finances back on track.
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Lloyds Loan Debt
Falling behind on a Lloyds personal loan can quickly lead to added financial pressure. Interest and late fees may build up, and missed payments can leave a mark on your credit file that makes future borrowing harder.
Lloyds will usually get in touch to discuss repayment or arrange a temporary plan. When payments remain overdue, the account may default or be transferred to a debt collection agency for recovery. This can be a
Support is available before it reaches that stage. Speaking with a debt adviser helps you understand your options and create a plan that fits your budget. At PennyPlan, our advisers will explain every step clearly, helping you take control and move forward at a manageable pace. We’ll walk you through practical debt solutions available like a Debt Management Plan (DMP), Individual Voluntary Arrangement (IVA), or Debt Relief Order (DRO).
We Help With Most Debts - Not Just Lloyds!
*Mortgage debt can be included if you no longer own the property in question.
Example Of An IVA
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Your Monthly Repayments:
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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
Lloyds Overdraft Debt
An overdraft often starts as a short-term buffer. It covers a bill, a repair, a gap between paydays. Then it becomes part of the routine. Each month starts in the red, and the balance never quite returns to zero.
Lloyds charge daily interest once the agreed limit is used. When payments keep slipping deeper, the costs build quietly. Some people notice only when the account feels impossible to recover, or when Lloyds begin to reduce the limit and request repayment.
That moment doesn’t have to spiral. A debt adviser can step in early to explain your rights, contact the bank on your behalf, and help you build a plan that makes space to breathe again.
Lloyds Debt Repayment Plan Options
Across the UK, we work with people who feel weighed down by debt from lenders like Lloyds Bank. Our advisers focus on what’s a realistic path, and will explain your options clearly and help you find a plan that fits your life.
IVA
Individual Voluntary Arrangement
An IVA consolidates your debts into one affordable payment plan, with some Lloyds debts 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 Lloyds 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?
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Get Lloyds Debt Help Today & Talk To An Advisor
We understand how overwhelming Lloyds debt can feel, but it doesn’t have to stay that way. Our advisers take time to understand what’s happening and guide you through the steps that can make things manageable again.
To get help with Lloyds debt, speak to a member of 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 I Ignore Lloyds Debt?
Ignoring Lloyds debt can cause the balance to grow through added interest and late payment fees. After several missed payments, Lloyds may issue a default notice or pass the account to a debt collection agency. That can lead to letters, calls, and a mark on your credit file that lasts for several years.
Reaching out early gives you more control and helps stop things from escalating. A debt adviser can contact Lloyds on your behalf, explain your situation, and set up a realistic plan before legal or collection action begins.
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.
Lloyds Debt FAQs
Yes. If you’ve fallen behind on Lloyds payments, support is available. PennyPlan advisers can review your full situation and explain safe, regulated options to make your debt more manageable.
Lloyds may pause or reduce interest once they know you’re getting formal debt help. It depends on your circumstances and the type of account. A debt adviser can contact Lloyds for you to request breathing space and fair treatment.
It’s possible. Lloyds may restrict or close an account linked to unpaid debt, especially overdrafts. Your debt adviser will explain how to open a safe new account for income and bills before any plan begins.
In most cases, yes. Lloyds often agree to lower monthly payments once a realistic plan is in place through a regulated debt adviser or provider.
Any missed payments or formal debt plan can appear on your credit file, but the impact reduces over time. What matters most is that your debt becomes stable and manageable again.