Get out of debt.
Faster than you think.
A plain-English, step-by-step guide for UK residents. No jargon, no upsells, just the exact moves that cut debt fastest.
£2,400
Average UK credit card debt
39%
Typical overdraft APR
£0
Cost of this guide
4 steps
To start clearing debt today
The 4-step debt payoff plan
Know exactly what you owe
List every debt, balance, interest rate, minimum payment. You can't build a plan without the full picture. Most people underestimate their total by 20–30%.
Cut your interest rate first
Before paying down debt, reduce what it costs you. A 0% balance transfer card or a consolidation loan can save hundreds before you've made a single extra payment.
Pick avalanche or snowball
Avalanche = highest rate first (saves the most money). Snowball = smallest balance first (builds momentum). Both work, pick the one you'll actually stick to.
Automate your payments
Set up direct debits for at least the minimum on every debt. Then pay extra on your target debt manually. Never miss a payment, it damages your credit score and triggers penalty rates.
Ready to build your personal plan?
Our free calculator shows exactly when you'll be debt-free and how much interest you'll save.
Negotiating with creditors? Prepare an Income & Expenditure statement
The document credit card companies ask for, list your income and outgoings, see your genuine surplus, and print or save it as a PDF. Free, nothing stored.
Common questions
Should I pay off debt or save?
If your debt interest rate is higher than your savings rate (almost always true for credit cards), pay off debt first. The exception: always maintain a small emergency fund of £500–£1,000 so unexpected costs don't push you back into debt.
What's the fastest way to get out of debt?
The avalanche method, pay minimums everywhere, throw all extra cash at the highest-rate debt. Once cleared, roll that payment into the next highest. It's mathematically optimal and typically saves thousands.
Can I negotiate my interest rate?
Yes, often successfully. Call your credit card provider and ask for a rate reduction. If you've been a customer for years and always paid on time, they'll often reduce it to keep you. Worst they can say is no.
What if I can't afford the minimum payments?
Contact StepChange (0800 138 1111) or National Debtline (0808 808 4000) immediately. These are free charities, not debt management companies. They can freeze interest, negotiate with creditors, and set up a plan lenders will accept. The sooner you call, the more options you have.
Can't make your minimum payments?
Get free, confidential help from a debt charity, they can freeze your interest and negotiate with creditors on your behalf.
Not financial advice. This guide is for informational purposes only. Always consult a qualified financial adviser for personalised recommendations. WiseYields is not regulated by the FCA.
