Credit Card Debt Help & Support

Firstly, try not to panic. Remember, you’re not alone, and there is help available. If you can’t afford your credit card payments, your lender may add charges or contact you about missed payments. Over time, this can affect your credit record or even lead to legal action. But the earlier you take action, the more options you’ll have to stop things escalating. Speaking to a professional can help you understand your rights and what solutions are available.

You don’t have to deal with credit card debt on your own. The first step is to speak to a professional who can explain your options. This could include setting up a payment plan or looking at longer-term solutions like an IVA. The right approach depends on your situation.

In most cases, you won’t be able to keep or use credit cards during an IVA, as the aim of an IVA is to help you clear the debts you already have and stop you from taking on more. Any existing credit cards will need to be closed as part of the process. This is to help you manage your finances more safely while the IVA is in place.

Typically, no. With an IVA agreement, you agree to stop using credit to ensure your financial situation becomes more stable. The IVA gives you a clear plan to repay what you owe; adding more debt would put that at risk. If an emergency comes up during your IVA, your adviser will talk you through what to do.

Bailiffs aren’t allowed to collect credit card debt without a County Court Judgement (CCJ). It’s worth noting that consumer credit card debts, even with a CCJ can’t be imposed by High Court Enforcement Officers.

This depends entirely on your individual situation. Some people take out additional loans to pay off their credit card debt, but this can be counterproductive if the new loan is expensive or unaffordable. If your debt feels unmanageable, it could be worth exploring whether an IVA is a good option to make it more affordable.

We recommend speaking to an IVA adviser, who will review your debts, income, and essential living costs. If your credit card debt is part of a wider struggle to keep up with payments, and you owe more than around £7,000 to multiple creditors, an IVA could be an option. The check is free and there’s no obligation, it’s just about finding out what is best for your circumstances.

Sometimes, but this isn’t a guarantee. If you haven’t made any payments or had any contact about the debt for six years, and no court action has been taken, it may become “statute barred.” However, this can be complicated, and creditors often take steps to prevent this happening. If you’re struggling now, it’s better to explore solutions like an IVA that can formally deal with the debt, rather than waiting and hoping.

If you’re still able to manage your payments, focusing on paying more than the minimum and tackling your highest-interest cards first to help you clear debt faster. But, if your debt has already become hard to manage, a structured solution like an IVA may help you better manage your debt and provide a clear way forward.

Unfortunately, yes. Particularly if you miss payments or your balances are very high in comparison to your credit limits. Entering an IVA will also impact your credit score in the short term, but it gives you a way to deal with debt that’s already damaging your credit. Over time, clearing the debt and following the IVA can actually help you start rebuilding your credit history.