Financial advice

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 Team via email at contactus@mhs.org.uk 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 National Debtline.

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.

The National 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 sheets.

The Financial 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.