1) List your debts
Using our income and expenditure form, completing all your incomings and outgoings. Make sure you have your recent bank statements and any credit card bills to hand. Include all the interest rates you’re being charged as well.
2) Prioritise your debts
Debts such as your mortgage, any loan secured against your home, any HRMC charges or Utility bills such as water, gas & electric, should be considered as priority debts and always get paid first.
3) See if you can move existing debts with expensive interest rates to lower rate credit cards or personal loan.
Once you've worked out which debts are costing you the most, consider transferring any high-interest credit and store cards to lower interest credit cards or a personal loan. Make sure you watch out for any balance transfer fees with credit cards.
4) Talk to your creditors
Most importantly, talk to us. We understand that calling us can be daunting, especially when facing difficult times and financial worries. By calling us we can listen and understand your financial situation, and help you put an action plan in place.
