With a mountain of debt it is often difficult to decide what needs to be paid and what can be put on the back burner. Some repayments must take priority over others. Mortgage or home rental payments should always be made a top priority to avoid any further problems such as homelessness.
Most companies are willing to listen if you put forward a plan to pay back debt. No one wants to make people homeless and destitute. Companies often have plans to help people pay back debts but still keep options open, telephone companies for instance can stop outgoing calls but still allow incoming calls. As long as you are paying the most you can and keeping up regular payments you will be going someway to stabilising the situation. If you receive letters from debt collecting agencies the worst thing to do is ignore them. They will not go away. The debt collecting agency will be running a system and will not have any personal opinion of you or your situation. You must respond to any requests for information and follow any procedures they indicate may be helpful.
However, if you have decided that a bad situation is only going to get worse then it may be time you tried to get outside help. It happens to thousands of people each year and many agencies are more than willing to help. Don't forget to take any correspondence from debt collection agencies with you.
One of the more obvious and well known agencies is the Citizens' Advice Bureau. There are almost 2 thousand offices around the country and it is a good place to start as it offers free advice as well as access to many useful booklets.
The National Debtline also offers free advice and help in planning a recovery plan - 0808 808 400. Consumer Credit Councelling Service - it deals with thousands of people each year through it's regional The offices. The advice is offered is independent and free of charge. They are expert at negotiating deals with finance companies on your behalf. 0800 1381 111 www.cccs.co.uk
Another source of help is www.creditaction.org.uk. If you have been threatened with legal action you may wish to contact the Community Legal Service who will be able to advise you www.clsdirect.org.uk |
