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Manage existing debt

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Look for smarter ways to reduce what you owe.

Being in debt costs money. There may be fees for taking out a loan or credit card. That's why minimising debt, as far as possible, is essential for your financial wellbeing.

If you are struggling with the high price of debt, you have several options:

  1. Cut back on the things you can't afford
    Many people are in debt trying to pay for things that they can't afford, like a big house, a luxury car, or even expensive accessories. If this sounds like you, consider ways to reduce how much you spend.
  2. Talk to your lender
    They may be able to offer you a short payment holiday, freeze the interest on your borrowing for a while, or amend the terms or interest rate you are paying.
  3. Consolidate your debts
    If you have multiple debts, it may be cheaper to consolidate these into one loan if it means a lower interest rate. You'll need to consider if there are fees and costs associated with repaying or consolidating your loans and if it will result in less debt to repay overall.

Get started with your financial wellbeing

Learn how HSBC banking products can help you with your financial wellbeing.

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Stay tuned

HSBC hosts financial wellbeing seminars led by expert speakers. These sessions cover essential tips to help you make informed financial decisions and achieve your financial goals with confidence.

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