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.
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.
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
Lots of people get back on their feet after falling into arrears and manage to keep their home. Falling behind on your mortgage doesn't mean you'll have to hand back your keys or that you'll have to pay everything you owe in a lump sum. Your lender should offer you a range of options to help you get back on track.
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.