What to do if you can’t keep up with debt repayments

It can be difficult to know where to begin but remember – you’re not alone. Reaching out to the right people, or taking the right action at the right time, can help you get back on track.

What you’ll learn in this guide: 

These key areas will guide you through practical steps for managing your debt – to help you feel more confident and ready to take back control of your finances.

List out all your debts and the amount owed on each. You may even want to write down the interest rates, so you can see which debts have the highest rate of interest. 

It can help to separate priority debts and non-priority debts. 

Priority debts have larger consequences if you don’t repay them, for example your mortgage or a court-ordered payment. Non-priority debts include credit card repayments or unsecured bank loans. 

Non-priority debts still have consequences if not repaid but it’s important to focus on repaying the priority debts first. 

Create a budget to see how much you have available to spend each month once the necessities are covered. You’ll then be able to see if you have enough money to cover the priority debts. If you have, start with these and set yourself a goal for reducing the other debts over time.

If there’s not, it’s important to get help before you get further behind on repayments.

In some instances, a debt consolidation loan may be able to help. It can bring all your debts into one loan to give you a clearer view of your repayments and a single interest rate. 

A debt consolidation loan shouldn’t be used to pay upcoming bills (unless it’s the unsecured debts being cleared off), nor will it stop them continuing to come in. You’ll need to remember to repay any debts which are not automatically cleared off as part of the debt consolidation loan.

While spreading your repayments over a longer term can make them more affordable, you could end up paying more in interest over time.

Reaching out for help is an important step in managing debt. Start by having an honest conversation with a trusted family member or friend. They can offer support, help you review your finances, or assist you in finding professional guidance.

You may be able to come to an agreement with companies you owe. This may make it easier to meet your repayments, particularly if the issue is likely to be short term. 

Call them and explain your situation to see if they’re able to help. They can help you create a repayment plan that’s manageable and will prevent you from missing any future payments.

Your bank will have a team that’s able to provide you with assistance and look at your options if you’re struggling to meet repayments. 

If you’re an HSBC customer and you’ve missed (or are worried about missing) a payment, we can help. 

Visit our money worries support page for more information.

There are a number of organisations that can help if you’re struggling with debt. You can find out about free independent money advisers in your area from:

Benefits and other government support are not just for those who are out of work. You can use this benefit calculator to find out if you’re missing out on unclaimed government benefits and allowances. The calculator is free to use, and the details you provide are anonymous.

You may find some commercial organisations that will help you manage your debt for a fee. To keep your costs down, you may want to start with charities and government organisations first.

If you do feel you want to go to a commercial organisation, make sure they are certified by the Financial Conduct Authority. If you feel you receive bad advice, you can lodge a complaint with the Financial Ombudsman.

If your mental health is affecting the way you manage your money, we have a range of mental health support services for you. There’s also support available if you need extra assistance, or if you’re feeling anxious about your finances.

If you miss repayments, you may be charged a fee. It can also impact your credit score, making it harder to borrow money in the future.

If you miss repayments on a secured loan like a mortgage, there's also the possibility that your home may be repossessed.

Explore: Mortgage payment support

Managing debts starts with listing what you owe and prioritising repayments. Create a simple budget to cover essentials and focus on paying priority debts first. If you need help, reach out to someone you trust. Contact your bank and creditors about your options. Free advice is available from UK organisations and charities.

Taking early action makes managing debt easier and helps you protect your financial future.

This article was last updated: 15/06/2026, 08:41