What to do.
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.
Don't ignore reminders
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|Publication:||Sunday Mirror (London, England)|
|Date:||Jan 13, 2008|
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