Struggling with debt? Here’s what to do about it – and how Fair for You can help

Most of us worry about money at some point.

It can happen to anyone - illness, family and parenting difficulties, job loss, relationship breakdown, the rising cost of living.

But did you know that over half of people in the UK have experienced problem debt at some point – and almost half of those kept quiet about it?

Fair for You is supporting Debt Awareness Week (16-22 March 2026), because we want people to feel comfortable asking for the support they need, rather than feeling shame. In this blog, we answer a few questions about debt, loans, and Fair for You.

I’m in debt. How can I get help?

You can get free debt advice from several places. StepChange, the charity that runs Debt Awareness Week, is one option. We’ve listed some others on our website. Fair for You cannot give advice about which one to use, but we would only include links to reputable organisations on our website.

Fair for You is concerned about the way that some private companies advertise Individual Voluntary Arrangements (IVAs). These adverts might promise to get rid of all your debt, which isn’t really true. While an IVA might be a good option for some people, these companies do profit from them, so their adverts can make them seem more attractive than is really the case.

Are you missing out on money which you never have to pay back? An estimated £24 billion in benefits go unclaimed each year. Find out what you could be claiming using the links to free checkers below. 

I’m in debt now. Could I get a loan from Fair for You?

We only offer a loan if we can see that you are likely to be able to afford the repayments - this is Fair for You’s priority as a responsible lender.

If you are struggling with large amounts of debt, then this will make it less likely that you will be given a Fair for You loan. However, if you have smaller amounts of debt, you are repaying them, and we can see that you can still afford the repayments on top of that, it might be possible to give you a loan. We take each decision individually, based on your current circumstances. 

We’ve made this video explaining how we assess affordability:

I used to be in a lot of debt, which messed up my credit score. Can I get a loan from Fair for You? What if I have been made bankrupt, or had an Individual Voluntary Arrangement (IVA) or debt relief order (DRO)?

When you apply for a loan, we’re particularly interested in how you’re repaying things right now at the time of your loan application, alongside your credit history.

This is why we may be able to consider lending if you have a bad credit score, or a discharged bankruptcy, IVA or DRO on your credit file. We base our lending decisions on what you can actually afford and your current financial situation and needs, rather than solely on credit history.

If you do get a loan from us, then keeping up with repayments can help to improve your credit score, meaning you may find it easier to access mainstream credit in future.

I’m struggling to keep up with payments on my Fair for You loan - what do I do?

We understand that circumstances can change from day to day and that sometimes this is out of your control.

We don’t charge late fees and will work with you to rearrange a payment plan should you fall off track. We always want to offer flexibility to our customers, which is why you can choose a payment plan that works for you - whether it’s weekly, fortnightly, four-weekly or monthly, over a period of 12 weeks to one year.

If you experience difficulties keeping up with your payments, please contact us. Fair for You is committed to helping you to stay in control of your finances.

We’ve made this video explaining what happens if you miss a payment:

I struggled to pay back a previous Fair for You loan. Can I apply for another one?

Normally, Fair for You says that you need to have repaid a third of any existing loans before you can apply for another one.

If you are in the Good Payers Club, you only need to have repaid a quarter.

If you had struggled to pay back a previous loan, this might make it less likely that you are accepted. However, this depends on whether you communicated with us about your difficulties, and worked with us to rearrange your payments.

Can Fair for You help me get out of debt?

Fair for You is a social lender - we make loans to help people buy essential items when we see they can afford to repay. We do not offer debt advice, but we often suggest places that customers can go if they need help with their finances. This includes places that might provide grants or other help.

We believe that having access to affordable credit is an important part of someone’s financial resilience. If someone can get an affordable loan, it might stop them from taking on an unsuitable, high-interest loan, or feeling like their only option is to use an illegal lender.

Our latest independent impact report shows that many of our customers’ financial position improved thanks to loans from Fair for You. In this survey, the number of customers with a "heavy" debt burden fell from 22% to just 3% after using Fair for You.

In addition, taking out a loan from Fair for You can help to improve your credit score, as long as you manage to keep up with repayments. This means you may find it easier to access mainstream credit in future, giving you more options when it comes to managing your finances.

If you have a loan with Fair for You and you need some support, please contact us. We’re here to help. 

*Fair for You loans are subject to eligibility and affordability checks. Missed payments may affect your credit file. Only borrow what you can afford to repay.