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How To Get Out Of Debt UK | BudgetSense.co.uk

Posted on January 10, 2026 in budgeting

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Essential UK Budgeting & Personal Finance Guides for 2025

Discover practical tips, tools, and strategies to manage your money, save effectively, and stay on top of your finances.

Check out our key articles: How to Create a Simple Budget, How to Save £500 in 3 Months, Understanding Credit Scores in the UK.

How to Get Out of Debt in the UK

Debt can feel overwhelming, but with a structured approach, you can regain control.

Steps to Reduce Debt

  1. List all debts with interest rates
  2. Prioritize high-interest debt first (avalanche method)
  3. Consider a debt consolidation loan if feasible
  4. Set a realistic monthly repayment plan
  5. Track progress using an app or spreadsheet

Debt Reduction Example

Debt Balance (£) Interest (%) Monthly Payment (£)
Credit Card £2,500 19.9 £150
Personal Loan £5,000 9.5 £200
Store Card £600 25.9 £50

Tip

Even small extra payments accelerate debt freedom.

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