Finance
Debt
counselling could be the answer to your personal financial problems.
Maybe you've lost your job through ill health or been made redundant - the bills
keep mounting up and you've no money to pay them.
- The longer you leave
the problem, the worse it is likely to get
- Unopened bills don't
disappear
STEPS
TO TAKE
- Cut down on any overspending
- Prioritise your debts
- Get specialist help
- Don't ignore your creditors
- try to negotiate terms with them
- Work out what you can
afford to repay
LOANS
- Consolidation loans
may help - but they are expensive
- Your bank may also help
you
DEBTS
TO PAY FIRST
- Mortgages - to avoid
repossession
- Council tax - failure
to pay can lead to a court summons and prison
MORTGAGE
ARREARS
- Even if you are in arrears
it may be possible to get a remortgage
- This may well be expensive
- but better than losing your home
REPOSSESSION
- If the lender sells
your home for less than you owe them they have several years to
start chasing you for the balance - between six and 12 years
- It is possible to negotiate
a reasonable repayment plan
