Speak to a member of our team and see how we can help you to overcome financial difficulty
We believe that the key to sorting out your borrowing problem is a straight-forward three-step approach:
Work out the scale of the problem
For this step you need to make a list of all your borrowings, including unpaid bills, loans from family and friends, and money owed on store cards etc. Then prioritise these debts with the most important ones to sort out first, although it is still important to remember that ignoring any debts can have serious consequences.
Draw up your budget
Work out how much you need to cover your day-to-day living expenses and how much you are receiving in income (whether that’s through salary, benefits, or a combination of both) then aim to save the surplus each month to contribute towards paying off your debts.
While it may sound obvious, also see where you can reduce expenditure (for example shop around to see who the current cheapest gas, electric, phone and internet companies are, make food shopping lists and stick to them to avoid unnecessary impulse purchases) and increase income (check you’re receiving all the benefits you’re eligible for, check you have the correct tax code, sell any unwanted items from around the house, work overtime if possible).
Don’t bury your head in the sand
Recognise when you need help and find it! If you have followed these steps and still find that you are struggling, look for the necessary help when you need it! Whether that’s asking friends and family for support, or turning to a professional for advice on how you can manage your finances better and deal with your debts, recognising you need help and asking for it as soon as possible will make the situation easier to manage; don’t wait for your debts to get out of control!
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