When you’re in debt it’s not always easy to recognise that you have a problem and need to get help. Learning how to budget effectively is a good first step. The good news is that there are lots of charities and government funded agencies that can help you with this, so you should never have to pay for debt advice.
You'll be suprised how much you can save by cutting out some of the small things you might regularly buy. Use this Quick Cash Finder from the Money Advice Service to work out how much you could save each month if you stopped buying a newspaper, cup of coffee or chocolate bar every day.
Get help if you're having problems paying your mortgage. Our friendly, free and confidential advice service can explain your options. While it's never too late to get advice, the sooner you contact us, the more we can usually do to help. Call our helpline on 028 9024 5640
Use the Loan Calculator from the Money Advice Service to work out how long it will take you to pay off your loan, based on your current monthly payments. If the loan is secured on your home, you could end up losing the property if you fall behind on your repayments. If you're having money problems, it's best to get some free, independent advice from a charity before you take on any further debt.
When you're in debt, you need to make sure you're making the best possible use of any money coming into your home. Check to see if you're entitled to any benefits or tax credits. You could ask for extra hours at work or rent out a room in your home to increase the amount of money your household has.