What debt solutions are available?

The debt solutions available to you will depend on your situation and where you live. The best way to find out what’s right for you is to speak to a debt adviser.

Debt repayment solutions can vary from informal agreements, such as a debt management plan, to more official arrangements, such as insolvency.

Usually, the best solution for you is determined by an assessment of your income and outgoings, any assets or savings you may have, your level of debt, and any money you may have left over at the end of each month.

Your credit score will likely be affected if you enter into a debt solution, but we would highly recommend speaking to a debt adviser to help you make a decision. Considering an arrangement with your lenders could be better for your long-term finances.

You can find more information on the different types of debt solutions below:

• for England and Wales
• for Scotland
• for Northern Ireland
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Get in touch with us

It’s really important to let us know if you’re struggling and feel you need more support. Please email us at support@ophelos.com, or respond to any messages we’ve sent you, and tell us you need help.
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We will never put pressure on you to agree to payments you can’t afford, we simply want to be aware of your situation so we can assist you.
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If you talk to us we can:

• Suggest resources that may help you.
• Discuss your options to find something to suit you.
• Give you some space if you need time to look into the support available.
• Keep your lender or supplier up to date so you don’t have to (please note we can only contact companies who have passed your account to us).
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Could you make any payments in the meantime?

If you can afford it, keeping on top of payments may help prevent problems in the future, particularly for your energy bills. If you feel able to make manageable payments for the time being you can set something up through your Ophelos account or talk to our team.
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If you don’t think you can manage to pay anything right now please let us know. There is help available, and if you are struggling our team will give you space to look into support.
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What you should deal with first?

There is a lot of information out there and it may be difficult to know where to start.

Here are some tools which may help you think things through:

• Work out which bills to prioritise.
• Work out which debts to deal with first.
• Find welfare, benefits, and grants that are relevant to your situation.
• Check what benefits you could be entitled to.

Your first step could simply be deciding to talk to someone for more advice. You can find a local adviser for benefits, housing, jobs, and legal issues here. You can find a list of free debt advice organisations here.
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Keep us in the loop

While we are managing your account it is important to keep us up to date. If we give you some space we’ll always let you know how long the hold will last. This is so you’re aware of when you need to get back in touch to let us know how you have got on.

When you update us we’ll be able to clarify the next steps for you.

This could involve:

• Revisiting your options.
• Giving you more space.
• Suggesting further resources to look into.
• Letting you know what to expect with regard to your account.