If you follow these golden rules, you won't go far wrong.
if in doubt - get advice
We are here to help and you are not alone.
don't ignore the problem
It won't go away and the longer you leave it, the worse it gets.
- It is never too late to get advice.
- Don’t borrow money to pay off your debts without thinking carefully. Get advice first. If you own your home, this kind of borrowing could lead to you losing your home.
- If you have lost your job or are off work because of illness, check whether your payments are covered by payment protection insurance. Check your credit agreement. Contact the insurance company or your lender to find out more details about how to claim.
- Check you are claiming all the benefits and tax credits you can.
Increasing your income
A personal budget is an essential tool when dealing with your debts. Use Your budget, our budget tool, to help you work out what you have coming in and going out.
- Once you have finished Your budget, use Step 3 and Step 4 to work out the best way to deal with your debts. If you are unsure, contact us for advice.
Debts with your bank - overdrafts, loans and credit cards
- If you decide that it is the best option for you to try to come to a payment arrangement with your creditors yourself, Your budget, our budget tool, will work out reasonable repayment offers to repay the money you owe.
- If you are going to make offers to your creditors, you will need to send them a budget summary, which is a shorter version of your full budget. You can create your budget summary using Your budget.