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When everyone has a home

Housing advice for Northern Ireland

Financial statement

CORONAVIRUS UPDATE

There are a few key steps you need to take to deal with your debts effectively. A charity that provides debt advice can often help you with this.

Planning your finances and your repayments is the most effective way of dealing with debt. An adviser can help you with this process if you're not sure what you should be doing.

The key aspect of budgeting is being honest and realistic, whether you’re listing your income or your outgoings. A financial statement, containing a listing of your income and expenditure, is a starting point for dealing with debt and making a sustainable repayment proposal.

The interest on credit cards can be very high. Use this calculator from the Money Advice Service to work out how long it's going to take you to pay off the balance on your card based on the amount you can afford to pay every month.

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 go to a mortgage broker, they'll work out how much you can afford to borrow based on your household earnings. But, it's important to take your overall budget into consideration too.

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.

There are a few key steps you need to take to deal with your debts effectively. A charity that provides debt advice can often help you with this.

Planning your finances and your repayments is the most effective way of dealing with debt. An adviser can help you with this process if you're not sure what you should be doing.

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