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4 February

Understanding and dealing with debt

Most of us have debt of some sort, but understanding and dealing with it can be difficult
Dealing with debt

Most of us have credit cards, store cards, mortgages or loans. Sometimes though we borrow more than we can afford to pay back. 

If debt is a problem for you, it’s important to face up to it. You can then begin to deal with it and get things back under control.

Here are some ways to help deal with debt:

  • Don’t get more loans to cover the debts – this could cost you much more
  • List what money is coming in and going out. See if there are ways to cut your spending
  • Talk to the people you owe money to. See if you can agree on a better repayment plan
  • Prioritise your debts – some are more serious than others. For example, not paying your rent or mortgage could result in you losing your home. Debts like council tax, gas and electric bills, fines, and maintenance payments, are also a priority

  • Talk to someone who can help. If you are a LiveWest resident, you can contact our Tenancy Sustainment Officers for advice. You can also speak to money advice experts, like the Citizens Advice Bureau 
  • Think about how to avoid sudden expenses. We have some great ways to save on a low income and reduce big costs like Christmas and your children. 

And please, don’t be embarrassed. You are not alone. Most of us get into difficulties at some point. It’s how we deal with the situation that matters. If you don’t know what to do, ask for help.

A couple of other agencies who should be able to help are:

The Money Advice Service: it’s free and independent. Go to their website or give them a ring on  0800 138 7777.

National Debt Line is also free. They’ve helped millions of people with their debts. They'll talk you through options and give clear advice on how to take back control: or phone 0808 808 4000

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