Get out of the debt cycle

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

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
  • 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?

A debt cycle is the continual borrowing of money, which leads to increased debt, increased costs and eventually default. 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 begins when a person becomes over stretched with the amount of debt they have and the repayments they are making. You may find yourself in this position, and so you take out new loans to consolidate and try to cover for any unexpected outgoings.

When you are in a debt cycle, it can be very difficult to save money, and so you may feel that you have to rely on borrowing money.

How Street UK can help with your debt



Affordable loans

Advice and 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 the 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, and pride ourselves on only offering responsible lending. This means that if someone cannot afford a loan, we won’t lend to them if it will worsen their situation. Instead, we will provide you with ongoing, actionable 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 fee debt management to help you tackle your debts should you need it:


StepChange provides 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

  • StepChange provide a range of solutions and can help you find a plan to suit your circumstances
  • StepChange supports you while you deal with your money worries, for as long as you need their help. 
  • They can help with debt management plans, bankruptcy, equity release and much more. 

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 a more 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: 

Comparison rates are correct as of 20-12-2021. Sources: and


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