You could write off up to 85% of your unaffordable debt
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Personal Loan Debt

What Happens if I Don’t Pay a Secured Loan?

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Why are we asking this question?
By knowing how much debt you owe, we can ensure we are able to offer you the most appropriate debt solution for your needs. Some debt solutions, like an IVA, require you to owe more than £5,000.

A secured loan is attached to your property, so if you are struggling to make your repayments, then your lender could apply to the courts to have your property repossessed to pay back the debt.

For the lender, repossessing your property is an absolute, last option. If you work with your lender and show them that you are treating them as a priority, then repossession can often be avoided.

 

If you are struggling with Secured Debt, then taking out a debt solution like an IVA could free up enough money for you to pay your secured debts.

 

To find out more, take a look at our Secured Loan Debt page.

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