Contract debt

Entering into contractual agreements usually means you’re agreeing to pay for goods or services such as a mobile phone or gym membership over a minimum term. This means you must pay the rest of the contract, even if you fall behind with payments or choose to cancel the service early. If you go into arrears, you may lose access to the goods and services.

If you find that your financial circumstances change and you can no longer afford the payments within your contract, you can contact the provider to work out an alternative arrangement such as lowering payments over a longer term or setting up a payment plan.