Category: Managing Debt
How to Set Up an Informal Repayment Arrangement UK
What Are Informal Repayment Arrangements? What Are Informal Repayment Arrangements? Informal repayment arrangements are flexible agreements made directly between you and your lender to repay a debt, without going through the courts or using a formal debt solution. These arrangements are not legally binding, but they can be a practical way to manage debts if…
Missed Payments and Arrears: UK Legal Overview
Understanding Missed Payments and Arrears When you miss a payment on a debt – such as a loan, credit card, mortgage, rent, or tax bill – you are said to be “in arrears.” Debt arrears simply mean you have fallen behind on your agreed repayments. This can happen for many reasons, including unexpected expenses, changes…
