No need to stress you're protected.
Personal loans are loans given to a person or people, repayable over an agreed term. Payday loans are short term, high interest loans that are usually expected to be paid back the next time the borrower receives their wage. Both are unsecured debt.
There are some loans that are not unsecured (secured loans). These should be handled differently see this section.
If you are not sure if your loan is secured or unsecured, don’t stress! The simple thing to do is to check your agreement or ask the lender, they will tell you.
If you don’t own a property or have not taken out a logbook loan, you can be 99% sure that your loan is unsecured.
If you are struggling with your loan payments relax, you’re going to feel ten times better once you’ve visited our unsecured debt section.
The good news is that you're protected by section 7.3 of the Financial Conduct Authority (FCA) Handbook, which means you have options like making token payments. This is just one option; we have reviewed other options that you may encounter highlighting any pros and cons without creditor or debt collector bias.
Anyway, enough chitter chatter, put the kettle on and head over to the unsecured debt section to start tackling your situation head on.