Printer Friendly

What to do.

SHOVING those red reminders into a drawer won't make them disappear.

The first step for anyone struggling with debts is to write everything down, and decide which matter most.

Set a strict budget, to avoid any more over-spending and to work towards clearing debts. Anything which might affect the roof over your head - mortgage or rent, council tax and utility bills - is a priority.

Be open with creditors and remember that an affordable repayment plan will show you are serious about tackling the problem.

Most lenders would prefer a smaller monthly payment over a longer period than nothing.

Consider switching to interest-only repayments on your mortgage for a limited time.

There's no need to pay for advice. The Consumer Credit Counselling Service (0800 138 1111; www.cccs.co.uk) offers a free self-help pack. Or your local Citizens' Advice Bureau can advise - find it on www.nacab.org.uk or in the phone book.

CAPTION(S):

Don't ignore reminders
COPYRIGHT 2008 MGN LTD
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2008 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Business
Publication:Sunday Mirror (London, England)
Date:Jan 13, 2008
Words:159
Previous Article:THIS research reveals just how terrifying the debt crisis in the UK.
Next Article:UNDER PRESSURED; EXCLUSIVE Don't trust tyre gauges at petrol garages.. 40% of them are FAULTY.


Related Articles
Bankruptcies.
Bankruptcies.
Bankruptcies.
World Bank mission to arrive in Bishkek to evaluate reforms under Doing Business Project.
World Bank mission to arrive in Bishkek to evaluate reforms under Doing Business Project.
World Bank mission to arrive in Bishkek to evaluate reforms under Doing Business Project.
World Bank mission to arrive in Bishkek to evaluate reforms under Doing Business Project.
President Bakiev, World Bank Country Manager discuss Kyrgyzstan's successes in economic development.
WB-IFC Doing Business Project team to submit action plan on how to ease doing business in Kyrgyzstan to Kyrgyz Government.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |