Debt

Debt is a reality for millions across the UK — from student loans and credit cards to car finance and overdrafts. While debt itself isn’t inherently bad, unmanaged or growing debt can quickly become stressful, overwhelming, and financially damaging.

The good news? Debt doesn’t have to define your financial future. Whether you’re juggling multiple repayments or simply want to pay off a lingering balance faster, there are clear steps you can take to get back in control.

Understanding Debt: The Good vs the Bad

Not all debt is created equal. Some debt can be useful — even necessary — in certain situations. For example:

• A mortgage helps you buy a home and may increase in value over time.

• Student loans in the UK have unique repayment rules and are often considered “income-contingent”, not traditional debt.

• Business loans can be a smart investment if they generate more income than they cost