Working out your personal budget

​How much do I have left to pay my creditors?

Your budget helps you to work out payments to both your priority creditors and your non-priority creditors.

You should work out offers to priority creditors first. This is because they have stronger powers to get their money back. You must deal with them first before you work out what to do about your non-priority creditors.

Working out what to pay towards your priority debts

Once you have worked out what to pay your priority creditors, you will need to contact them to make an arrangement.

Dealing with your priority debts for advice on which debts you should treat as a priority and how to negotiate with your priority creditors.

The next step is to put the agreed priority debt repayments into Your budget under Your priority debts. All your priority debt payments will then be added up for you. 

If you have no money available to pay your priority debts, contact us for advice.

Decide ​on the best way to deal with your non-priority debts

Now you have worked out your income and outgoings and any payments that you need to make to priority creditors, you need to look at all your options for dealing with your non-priority debts.

Dealing with your non-priority debts

If you decide the best option for you is to try to come to a payment arrangement with your creditors yourself, the next section explains how to work out offers of payment.​