Having a careful look at your financial situation is a good starting point for dealing with your debts.

This can be a daunting process, especially if you’re not experienced in budgeting and detailing your income and expenditure. You don’t have to do this on your own – an adviser or a debt specialist will be able to look at your finances for you and help you devise a statement.

Whether you decide to do it on your own or with the help of an adviser, you will certainly need to put some figures on paper in order to see what you can afford to repay. You will need to establish exact amounts of how much you are earning and how much you are spending and what is the extent of your total debts, so that you are able to suggest a realistic payment plan to your lender.

Good budgeting skills and a realistic financial statement will be essential for your ability to plan your way out of arrears.

Download the Mortgage Debt Advice Service Tips & Contact leaflet about dealing with your mortage arrears.