When the pressure is on there is
always the temptation to borrow more money to solve
the short-term problems - that is probably as bad as
sticking your head in the sand and pretending its not
happening.
The following check list may help
you, if you decide to try and manage your problems
yourself:
Prepare a schedule of all your debts,
the monthly repayments and the amounts outstanding,
including
any arrears. To assist you in this, use our calculator.
Work out a weekly or monthly budget
of income and expenditure.
Make sure you always pay
your mortgage, utility bills and other priority bills
on time, if possible.
Think before you consolidate your
loans, consider the interest rate, and look for any
hidden fees and the
effect on your monthly budget. Make sure you are dealing
with a reputable company.
If you speak to any of your
creditors, make a note of the conversation and what
you agreed. Take a note
of the name of the person to whom you spoke, with the
date and time of the conversation, and confirm the
arrangements in writing.
Be open and honest with your
creditors – little
white lies about your circumstances will generally
be found out.
Seek professional help if you receive papers from the
Court. We can often help you with these; alternately
you will find your local Citizens Advice Bureau helpful.
