Get out of debt cycle

So, you may have seen our advert on the debt cycle and was wondering how we can help?
Well let’s start with explaining what a debt cycle is first and then we’ll provide you with some practical solutions to help.

Key points

  • We are an ethical lender and therefore, won’t lend to you if you cannot afford the loan
  • Even if we are not able to help you with a loan, we will signpost you to companies who can help you further
  • We are cheaper than most high cost lenders which means lower weekly payments
  • Paying your loan on time helps to improve your credit score

What is a debt cycle

It is continual borrowing that leads to increased debt and increased costs. People take out loans for a number of reasons; struggling to live within their means, unexpected payments, emergencies, the list goes on.

A debt cycle is when you are over stretched with the amount of debt you have and the repayments you are making. You may find yourself in a position where you have existing debt and you are struggling to keep up with the repayments and take out new loans to consolidate, or you have more unexpected outgoings that you need to take out additional loans for.

When you are in a debt cycle it becomes really hard or even impossible to save money to avoid having to borrow in the future.

How Street UK can help with the debt



Affordable loans

Advice & prevention

Firstly, when assessing your loan application, we try to understand your financial circumstances by reviewing your income and expenditure. As part of this process we will also tell you ways you could budget better and potentially access grants or other types of similar support.

Affordability is at the centre of our decision making. We are a not for profit company, who pride ourselves on responsible lending. Meaning if someone cannot afford a loan, we won’t lend to worsen an individuals’ personal situation. Instead we will provide you with advice on how to improve your financial situation to improve your chances of being approved in the future.

We can signpost you to the UK’s leading debt charities, who will be able to guide you by providing expert debt advice and provide fee debt management to help you tackle your debts should you need it:


StepChange provide free, impartial debt advice online and by phone. Their expert team help over

630,000 people a year deal with their money worries and take back control of their lives.

You can access full debt advice and set up a solution both online or by phone, tailored to suit your needs

  • They provide a range of solutions and can help you find a plan to suit your circumstances
  • You can access full debt advice and set up a solution both online or by phone, tailored to suit your needs
  • You can access full debt advice and set up a solution both online or by phone, tailored to suit your needs

Visit their website at StepChange

Mon-Fri 8am-8pm, Sat 8am-4pm to take the first step towards taking back control of your finances

Money Advice Service

Affordable loan

If you’re a regular customer with a doorstep lender or another high cost lender, you may be able to switch to us for an affordable loan. The repayment will be flexible and most likely cheaper than other high cost lenders so you could end up saving money which you can use to repay your debt quicker, or even start to save it!
As long as you repay your loan on time or make flexible arrangements with us when you can’t pay, your credit profile will improve via credit reference agencies that we use and your positive repayment history will build, which will increase your credit score.
Repeat customers can access loans at reduced interest rates of 149%, compared to:

Representative APR
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Not for Profit
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Flexible Advances
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