Summary
Are your debts giving you nightmares? There’s guideance for people attempting to meet their mortgage repayments, credit cards and loans. Don’t be alarmed it’s confidential – they have heard it before.

Where can you go for help with your debts? A great many people are gettting into a predicament with debt in the current financial recession. Citizen’s Advice has seen a marked rise in people asking for their help in correlation with managing their mortgage repayments and other credit problems.

A further source of free advice when it comes to debt, the  Consumer Credit Counselling Service (CCCS) is covering around 1,500 phone calls every day, with The Debt Advise Centre stating that their phone calls are up at least a third.
If you have debt worries, you’re not alone. Carry on reading to to discover just how much help you can get.

For head to head contact, The Citizen’s Advice has a enormous number, well above 2,500, of Citizens Advice Bureaus spread all over the Great Britain. Their team work on a voluntary basis, with many of the offices having people who specialize in debt.

If you approach them for assistance, what they will do, initially, is to tell you to compile a list of those you have oustanding payments with, what monies you have coming in and and what it costs to cover your household bills. Prepared with this information, you will then have an appointment with an adviser. They will go into everything with you, and check whether there may be a way that your income could be elevated.

Whereas you may imagine you have covered everything, it is possible that there are benefits you are not receiving or you could have been supplied with an incorrect tax code and are subsequently paying too much tax.

They will then discuss your household expenditure to establish if there might be any savings made. The debt management company will tell you how to prioritize your debts. The vital ones will be those involved in retaining a roof over your families head,for example mortgage repayments or rent, along with your heating, power, light and the council tax. Debts like credit cards and loans which may not be secured on your home come at the end of the list.
Your debt adviser will send you  information brochuer containing letters for you to dispatch to the companies you owe money to.

Along with your adviser, you will streamline your net income and formulate a repayment plan to be negotiated with the companies on your priority list – Landlord, local authority, utility companies and mortgage company.

Money remaining after these necessary costs and the expense will then be offered to your non-priority group. The CAB will always work with you to ask for the associated interest and charges to be frozen , however this is not always successful.If the courts get involved, they will normally acknowledge a fair offer and rule in favour .

If there is any risk of repossession or court proceedings to recover debt, the Citizens Advice Departments will help with that too.

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