Coronavirus Debt Help
The spread of Coronavirus, also called COVID-19, in the UK and across the world has far-reaching implications for the economy and personal finances. If your income has reduced or stopped as a result of Coronavirus and you are unable to keep up with your normal debt repayments and household bills, then there is help available to help you through these uncertain times. Use the following guides to find out more about the latest help and support available:
Coronavirus and your money
Advice on what to do if you’re worried about your finances, whether they’ve already been affected by the situation, or you think they could be soon.Learn more
Coronavirus, employment and benefits
Find information about the benefits you might be entitled to if Coronavirus affects your finances, as well as specialist advice for self-employed people and small business owners.Learn more
What are creditors doing to help?
Find out what help creditors are offering if you can’t make your regular payments to your loans, credit cards and other debts as a result of self-isolation or illness.Learn more
Financial help for employees
The UK Government have announced a support package for employees, which their company can apply for.
Financial help for self-employed
The UK Government have announced a support package for people who are self-employed. Find out what Self-employed Income Support is available.Learn more
Coronavirus and borrowing
We’re looking into whether borrowing money in the current climate is the best idea, and if it’s absolutely necessary, how should you do it?Learn more
Financial support in Scotland
We all should be following Government guidelines to stay at home but what financial support can you get if you live in Scotland?Learn more
Find quick answers to everything you need to know about Coronavirus and how it will affect your employments, benefits, sick pay and finances.Learn more
Help available for existing clients
If you’re already in a managed debt plan with PayPlan and are concerned about your ability to make your regular payments, please contact us for help.Learn more
Can I get help with my debts if my income has reduced?
We understand this is a worrying time for everyone and know your income could fluctuate on a regular basis due to the impact of Coronavirus.
However, please be assured we are still able to help you get your debts under control in these uncertain times. We’ll look at your current circumstances and recommend the best debt solution for you right now, whilst continually reviewing this to ensure it remains the best solution for you if your income changes.
If we think that a PayPlan managed debt solution is the best option, we can agree a payment that is affordable now but we’ll work with your lenders to ensure there is enough flexibility to reduce or adapt your payment in the future should your financial situation change. This will mean your plan will always remain affordable for you, and will give you the best chance of becoming debt-free as quickly as possible.
If you or someone in your family is ill, and you’re concerned about them, please read the latest NHS advice for guidance.