Terminology.

Wondering what a word means? We've got that covered too.

We try to keep the jargon to zero but there are words that you will need to know the meaning of. Did you know the word "mortgage" means "death pledge" in Old French?! Spooky. Anyway use below to find words that you may not understand the meaning of. We got you.

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P

Partial Settlement

Plain and simple, a Partial Settlement is settling a debt for less than the amount owed.

Payday Loan

Payday loans are very controversial short term, high interest loans that are usually expected to be paid back the next time the borrower receives their wage. They are also unsecured. Try and avoid them if you can.

Payment Holiday

A Payment Holiday is when a lender or creditor agrees for you to pause making payments towards your debt for a set period of time.

Personal Loan

Personal Loans are loans taken out by an individual or individuals (I.e. the consumer). This type of debt is unsecured as they are not secured to an asset such as a property or vehicle.

In a state of panic?

You're not the first and you won't be the last to panic about debt. Your mind starts thinking all sorts. "Will I lose my house?" "Will a bailiff turn up at my door?" When managing your finances your mind should be calm. We have an article for you that will help you calm your mind first and then you can see how easy it is to understand your situation and solve it.

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Budget planner.

Do you know how much you have left at the end of each month? Do you need to send an income and expenditure to a creditor? We've got you covered. Our budget planner provides you with a simple and free way to view and track your spending.

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Join our community.

It's good to talk! Debt can seem like a lonely place, it doesn't have to be. Join our community to interact directly with The Real Debt Guy team and other members like you. Debt is not something that you have to suffer alone. We got you.

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