Types of debt · 5 min read
Struggling with credit card debt? Your options explained
Credit card debt can grow quickly because of high interest rates. If you've been making minimum payments for a long time, here's what you can do.
Persistent debt
If you've paid more in interest and charges than off your balance over 18 months, your card provider must contact you. After 36 months, they must offer ways to repay faster, such as reduced interest.
Your options
- Ask your provider for a lower rate or payment plan
- A 0% balance transfer card, if your credit allows
- A debt management plan to lower monthly payments
- An IVA if you have several cards and larger debts
Get help with credit card debt →
This article is general information only and may not reflect your circumstances. Rules and limits can change, so always check the details with an authorised provider before making a decision.
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