It only takes a small change in your circumstances for
financial difficulties to arise. The following information
will help you to deal with what can be a daunting and stressful
experience and help to stop these matters getting worse. You
can also contact our Customer Services on 01634 565333 and ask for
our ‘B THRIFTY’ pack to
be sent out to you.
Don't ignore the problem! - it won't go away and invariably the
longer you leave it, the worse it will get.
Contact those who you owe money to - explain you are
experiencing difficulties immediately.
Don't borrow money to pay off your debts - seek advice, consider
it carefully, remember you will still have to repay the loan.
Work out your personal budget - remember to include all
your incomings and outgoings, no matter how small, use weekly or
monthly figures but be careful not to mix the two. This
Expenditure sheet can help
you to work out your finances.
The Financial Services
Authority provide an online budget calculator.
A downloadable budget planner is available from the
Work out a reasonable offer to make to creditors, remember
priority debts such as housing, council tax, gas and
electricity come first over non priority debts such as credit cards
and catalogues. Make a realistic offer and do not offer more
than you can afford.
Get advice - make sure you are claiming everything you are
entitled to, are payments covered by insurance schemes? The
following websites offer help and advice:
Citizens Advice Bureau, offers
advice about money, employment, housing, and your rights.
Debtline offers free, confidential and independent advice on
how to deal with debt problems. Download information packs to
deal with debt, a budget planner, sample letters and fact
Services Authority, the UK's financial watchdog provides useful
information and online tools to check your finances, debts, and
calculate a personal budget.
The Department for Work and Pensions
provides information about benefits.