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Debt Advice Glossary

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Family income benefit

Family income benefit is an insurance that, in the event of a claim, pays out a regular income for the remaining term of the policy, instead of a 'one-off' lump sum.

Final discharge

A final discharge is a court notice that shows your bankruptcy has ended. This document will mean you’re debt free and the bankruptcy period is over.

Final salary plans

A final salary plan is a pension that is based on the number of years of service and the value of your final salary.

Fixed rate

A fixed rate is an interest rate that doesn’t changed for a set period of time.