For credit card debt, look to transfer the balance to a new provider which offers an interest free period. This can help you pay down the debt quickly, just be mindful interest rates can often be very high on new spending.
Make overpayments on your highest interest debt to clear them as soon as possible. Once you have got out of debt, the best guidance we could give one our clients is to avoid debt at all costs. There can be benefits and incentives, but its all to lead as many clients as possible into a debt situation where your paying interest.
Don’t suffer in silence. If you have a large amount of debt and are struggling to cope, speak to the providers and let them know you are having financial difficulties. Be honest and they are obligated to help you avoid situations such as ‘debt spirals’ and get back on track. They may offer to waive fees, provide you with an interest free period or some other arrangement.
Not all banks or providers however live up to their responsibilities, so be prepared for them to say ‘tough’. Where this happens, this is not the end of the journey. You should check out this website to read and understand the Standards for lending to know what you should expect and what they should be doing: