- approved intermediary
- A debt adviser at a registered charity who is authorised to check your eligibility for a debt relief order and submit the application to the official receiver on your behalf. Understanding Debt Relief Orders: A Route Out When Income Is Low
- Arrears
- Money owed on a bill or loan that you have failed to pay by the due date. Priority debts in arrears carry the risk of enforcement action like eviction or disconnection. Priority debts: understanding which obligations come first
- Breathing space
- A 60-day pause in creditor action that stops contact and court proceedings, giving you time to seek advice and decide on a debt solution. Getting free debt advice: where help starts
- insolvency practitioner
- A professional licensed to administer formal debt solutions. They draw up your proposal, present it to creditors, and manage payments throughout the arrangement. What Is an IVA and How Does It Work?
- Payment arrangement
- An agreement between you and a creditor to pay what you owe in smaller amounts over a longer period, rather than in full by the original deadline. Most creditors will negotiate one if you contact them early. Priority debts: understanding which obligations come first
- priority debts
- Debts that carry serious consequences if unpaid, such as losing your home or having essential services cut off. These include rent, mortgage, council tax, and utilities, and must be paid in full before money goes into an IVA. What Is an IVA and How Does It Work?
- self-exclusion
- A tool that lets you block yourself from gambling sites for a set period. During that time, you cannot open new accounts or access existing ones. Understanding GAMSTOP: A National Tool to Block Gambling Sites
Last updated:
ABC Vac Sweep Editorial Team