Don’t ignore the problem
It won’t go away and the longer you leave it, the worse it gets. Get in touch with your creditors straight away and explain your difficulties. Explain your hardship situation in writing and back it up with a detailed personal budget.

Outlining your income and outgoings and showing your creditors how much you can afford to pay them every month. Contact everyone you owe money to. If you make arrangements to pay some creditors but not others, you could run into difficulties again.

If the first person you deal with is unhelpful, ask to speak to someone more senior who may be able to agree to your offer of payment.

Be wary of borrowing more money
Don’t borrow money to pay off your debts without thinking carefully. Get advice first. You should be particularly wary of taking out a loan secured on your house to consolidate the debts you already have.

If you turn unsecured loans into a mortgage you could lose your house if you don’t keep up the payments.

Consolidation loans mean borrowing more money, over a longer period and will mean more interest to pay. This could make your situation worse in the long run.

Adopt a wise strategy
Make sure you tackle your priority debts first. Priority debts are those that could lead to you losing your home, being evicted, having your gas or electricity cut off, or lead to fines.

This means you should make sure you have made arrangements to pay your essential household bills such as your mortgage or rent, loans secured on your home, tax and utilities before making offers to pay unsecured credit debts.

Your debt situation may get a lot worse if you miss payments on your mortgage to keep up to date with a credit card.

Maximize your income
Make sure you are claiming all the benefits you are able to: Could you claim Tax Credits? Are you sick or have a disability? You may be eligible for income. If you have lost your job, or are off work because of illness, check whether your payments were covered by payment protection insurance.

Contact the credit company if you are not sure. Make sure all adults in your household are contributing to the household bills. You may also be able to save money by switching to better deals on a range of goods and services.

Contact Us
Look into a debt management plan which saves you money on interest and reduces your monthly payments on credit cards.

CHECKING YOUR BENEFITS

Everyone:
https://www.govbenefits.gov/

Senior specific:
https://www.benefitscheckup.org/

Contact Debthelper.com at 1-800-920-2262 for more debt help.
https://debthelper.com/

We enable anybody with an unsecured debt problem to manage and control it themselves. Simple. Act now!