Bank loans, overdrafts, credit cards and store cards

Unsecured bank loans, overdrafts, credit cards and store cards are non-priority debts. This means that they do not have extra powers to make you pay (for example, they cannot take your home) and it is not a criminal offence to be unable to pay.

If your current account is with a bank that is connected to any of your debts, you may need to open a new account elsewhere to have your wages paid into, before negotiating with the bank about repaying your loan.

If you are struggling to keep up with your repayments, there may be a number of options available to you.
 
You can find out how to deal with this type of debt at Step 4 of our Four simple steps to dealing with your debts.
 

Dealing with your non-priority debts and Debts with your bank - overdrafts, loans and credit cards for more advice and information.