For debt advice call 0800 043 0550

Unsecured Debt

An unsecured debt is a debt that is not secured against any asset, such as a house or vehicle. It is the most readily available type of debt and comes in the form of credit cards, store cards, overdrafts, loans, payday loans etc... Credit lending companies make a lot of money from unsecured debt, because of the nature of it's ease of use, high spend, high interest and low repayment system. If you have unsecured credit at your disposal, it is so quick and easy to use when you don’t have the cash available.

Are you struggling with unsecured debt?

If you're having difficulty with unsecured debts and you cannot pay them, it is important that you address the problem as soon as possible. Fill in the form below and we will get in touch to advise you of all options available.

 Get Debt Advice

Fill in the form and we will get back to you

You are protected by our GDPR Privacy Policy

Types of unsecured debt

Credit cards

The most popular type of unsecured debt that we find people have difficulty with, is in the form of Credit cards. Credit lending companies are constantly releasing enticing offers such as buy now pay later and 0% interest deals for short periods of time. If you’re not careful with using these types of cards or if you misunderstand the terms of the offer, then it won’t be long before you find yourself in financial difficulty with repayments.

Store cards and catalogues

Store cards can be even more deadly than Credit cards because of their high interest rates and constant marketing materials and promotions enticing you to spend more on the account. If you don’t repay in full then they will quickly accumulate interest and soon leave you in a trap of repaying them for a long period of time.


Overdrafts are another very common form of unsecured debt, usually offered from your bank or building society, as a buffer for when you don’t have money in your account. You are usually charged a fee for using your overdraft and then when your wages/income goes back into your account, the overdraft is repaid. The problem with overdrafts is if you get into the habit of using them and repaying them every month, you soon fall into a pattern where you are dependent on the overdraft facility as part of your income. So, depending on the amount of the overdraft, you never get to repay this and become free of it.

Unsecured Loans

An unsecured loan is a form of credit that is usually taken out and repaid over a set period of time (usually spread out over several years). Interest and repayments are agreed at the time of obtaining the loan. The risk with these loans is you should be sure you can afford the monthly repayment amounts. If you run into difficulty and miss a payment, you could struggle to manage the loan.

Payday loans

Payday Loans are relatively new to the industry. They are a means of getting quick access to a low sum of money, but they also carry high interest rates and must be paid off the following month when the borrower is paid. They are generally aimed at people who do not have enough money to make ends meet each month. The problem with this type of borrowing is that you can very quickly and easily fall into a trap of living off payday loans each month. If you miss a payment you could run into trouble quickly with high interest charges and the inability to pay the money back, causing the debt to spiral. Payday Loans have recently been under media and government speculation regarding adding a cap to their high interest and charges.


Excellent company

Gave me help advice and confidence to deal with a very large and stressful financial situation that I could see no way out of. Many thanks. | Client review


About us is owned by McCambridge Duffy who are one of the leading Insolvency firms in the UK and have been in the financial industry since 1932. McCambridge Duffy solely provide IVAs and other Insolvency solutions.

On our site you will find information on debt solutions, both formal and informal. We provide this information so you have a clear overview of the options available for dealing with your debts. We do not offer informal debt solutions, so if an insolvency solution is not your recommended course of action, with your permission, we will refer you to an appropriate agency/provider that can assist you further.

debt information NI

Unsecured Debt

Unsecured Debt

Most of the calls we receive are about unsecured debts which are debts such as credit cards, loans, payday loans, store cards and overdrafts... We specialise in helping people with these types of debts by offering insolvency solutions that can help you reduce payments to make them affordable...

Mortgage Debt NI

Mortgage Debt

Your rent or your mortgage is one of the most important bills you will ever pay. It’s the one thing that provides you with shelter. When you run into difficulties with paying your rent or mortgage it can be very scary. It is important that you seek help as soon as possible. We may be able to help you...

Job Loss

Job Loss

When you're facing redundancy or losing your job, the first thing you worry about is how you’re going to have the money to live, never mind if you have debts or other bills to pay. We may be able to help if you are facing employment difficulties and can longer afford to pay your debts...

Business Debt NI

Business debt

If you are an NI business owner having difficulty keeping up with debts and it's affecting the running of your business, then we may be able to help. We specialise in providing insolvency solutions for people who are self employed and need help recovering from the close of a business or to stop their business from going under...

 NI Debt Calculator

Debt Calculator

Use our debt calculator to work out what you can afford to pay towards your debts.

NI Online Debt Chat

General Enquiry

Have a general query? Please get in touch and one of our advisors will be happy to help.

Contact us
NI Debt Advice

Contact us about debt

Fill in the form to enquire about help with your debts. We will be in touch.

Get advice
Client testimonials


Read what our clients have to say about our services.

Read Them