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
- Cut down on any overspendingPrioritise your debtsGet specialist helpDon't ignore your creditors - try to negotiate terms with them
- Work out what you can
afford to repay
- Consolidation loans may help - but they are expensive
- Your bank may also help
you
- Mortgages - to avoid repossession
- Council tax - failure
to pay can lead to a court summons and prison
- 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
- 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
