Below we have outlined the most common questions asked about debt. Please click on a question to get the relevant answer.
Is my credit rating going to be affected? I am being threatened with court action, what can I do? Can I go to prison for debt? Will I lose my house? What is consolidating debt? What is an IVA? What are debt management services? What is bankruptcy and when should I declare it? Will I be able to get a mortgage or credit in the future?
If you are failing to make repayments, then yes your credit rating will be affected negatively. You will probably not be able to borrow more money while you are repaying your debts. A note may have been put on your file blacklisting you from getting anymore credit.
Only Finance Ltd is authorised and regulated by the Financial Services Authority, FSA registration number: 466941. Our registered offices are 1 Kings Avenue, Winchmore Hill, London N21 3NA, company number: 05640662. Telephone 0207 377 1805.