A government payment made to individuals that meet specific conditions to help them meet their living expenses. An example could be someone who is unemployed or caring for a disabled person.
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A plan of extended incomings and out goings over a set time period such as a month
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A charity providing free, independent, confidential and impartial advice on citizen's and consumers' rights and responsibilities
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A loan used to pay off a number of different debts, meaning that there is then only one payment to make each month, to the loan company.
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In England and Wales, a judgement is issued by a country court to a person who does not respond to a court action or organisation to which they owe money. They affirm that the money is owed.
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A card that allows the holder to make transactions face-to-face, online or over the phone and withdraw money from ATMs. Unlike a debit card the transaction is paid for by the provider and is charged interest and payed back in one go/instalments
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A record of money borrowed and repaid by an individual. These records are held by credit reference agencies and providers will check this when a prospective customer applies for a borrowing product.
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A person or organisation to which someone owed money
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An organisation to which a person is in debt (debtor) pays what they can afford each month. They deal with the organisations (creditors) what are owed money
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A detailed plan drawn up by a debt management company (DMC) and sent to an individual's creditors (entities that owe money). It sets out an affordable monthly payment shared between the creditors.
