Debt Advice Glossary


Quality mark

A quality mark is a recognition that a service or product has met certain independently audited professional standards. Many not for profit debt advice agencies hold the advice quality standard.


A quarter is a period of 3 months. there are four quarters in a year. Some payments are billed quarterly.

Quick Benefit Calculator

An online program tool for experienced advisers to check & calculate means tested welfare benefits entitlement as well as 'what if' calculations.


Redemption penalty

Redemption penalties or early repayment charges are sometimes paid to lenders if you clear the debt before the agreement has ended.​


Repossession is the legal process where a mortgage lender or secured loan provider takes ownership of a property. If you miss mortgage payments, your lender may ask the courts to evict you from your house. Your lender will then sell the property.


Remortgaging is when you take out a new mortgage to pay off an existing one, using the same house as security.

Right of offset

This can happen when you’ve got a bank account & a debt with the same bank. If you miss payments to the debt, your bank can take money out of your bank account to cover the payments you’ve missed.