Debt Types

Types of debt

There are lots of different types of credit available and they all have slightly different terms and conditions. This can make it complicated to work out the differences between them.

We can give you free debt help and put you in a position to deal with whatever type of debt you have.

Check your credit agreement

If you’re not sure what type of debt you have, you should check the credit agreement you got when you first took the debt out. If you don’t have the credit agreement you can ask your lender to provide you with a copy. They will be able to tell you what type of debt you have.

We can help

Whatever type of debt you’ve got, if you’re struggling to pay, we’ll be able to help you. You can use this free online Debt Remedy tool which will give you personalised advice whatever your situation. If you’d prefer to visit us at Financial Health Centre, Healthy Heart premises, 210 Kilburn High Road, NW6 4JH and talk to one of our volunteers.

All our services are free and our debt advice is always impartial, confidential and tailored to your situation.


1.  How do I find out what type of debt I have?

The agreement you signed when you first took out the credit will tell you what type of debt you have.  Or you can contact your lender and they will be able tell you.

2.  What should I do if I’ve lost my original agreement?

If you don’t have a copy of your agreement you signed you can request that your creditors sends you a copy of it.

3.  What is Payment Protection Insurance [PPI] ?

This is an insurance you can take out when you apply for credit; it repays the debt if you become ill or become unemployed.  Lots of PPI’s were mis-sold as they did not cover certain people or situations.  We can assist you with Step Change’s Money Aware blog and reclaim your PPI for free.

Check out more Debt Types from the menu.



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