What to do with that obscenely expensive studded velour tracksuit you had to have and never wore? Flog it through a designer dress agency: it’s the perfect remedy to these credit-crunched times.

What: Sign of the Times
Why: Run by the effervescent Lorraine Fraser, this place is top of the crop. Sell secondhand designer clothes and receive a cheque once they sell. If they’re unsold after two months, reclaim or donate to charity.
When: Mon.-Fri., 10 a.m.-6 p.m.; Sat., 10 a.m.-5:30 p.m.
Where: 17 Elystan St., SW3 3NT (020 7589 4774).

What: Retro Woman
Why: Exchange vintage, designer or high street gear for store credit (half of value) or cash (a third of value) on the spot.
When: Mon.-Sun., 10 a.m.-8 p.m.
Where: 20 Pembridge Rd., W11 3HL (020 7565 5572).

What: Pandora
Why: Leave good-as-new clothes and accessories and collect cash or a cheque once they’re sold.
When: Mon.-Sat., 10 a.m.-7 p.m.; Sun., noon-6 p.m.
Where: 16-22 Cheval Pl., SW7 1ES (020 7589 5289).

What: Designs
Why: Hand over a minimum of three items for 50 per cent of their retail price; money available from the last Monday of the month.
When: Mon.-Sat., 10 a.m.-5:45 p.m.; Thurs., 10 a.m.-6:30 p.m. (Items for resale accepted Mon., Tues. & Fri., 10 a.m.-1 p.m.; Thurs., 4:30-6 p.m.; or by appointment.)
Where: 60 Rosslyn Hill, NW3 1ND (020 7435 0100).

What: The Loft
Why: Sell new or secondhand designer labels at this stylist’s hangout and receive half of the selling price.
When: Mon.-Sat., 11 a.m.-6 p.m.; Sun., 12:30-4:30 p.m.
Where: 35 Monmouth St., WC2H 9DD (020 7240 3807).

What: Bang Bang Clothing Exchange
Why: Get a third of the cash value back immediately for designer, vintage and high street clothes or half the selling price to spend in-store when you like.
When: Mon.-Fri., 10 a.m.-6:30 p.m.; Sat., 11 a.m.-6 p.m.
Where: 21 Goodge St., W1T 2PJ (020 7631 4191).