It just gets worse-Debt problems are causing great stress.

[steven4064]

NWJ

 

It sounds like you need to getall your debts sorted out. The first thing to do is to produce a statement of income and expenditure - there is a model on the National Debt Line website (National Debtline – Free, Confidential Debt Advice – Call 0808 808 4000).

 

Debts are not all equal - there are priority debts (mortgage/rent, couuncil tax, electricity/gas etc) and non-priority debts (credit cards, cataogues, banks) and the strategy for dealing with each group is different.

 

1 Priority debts - you must keep paying the current payments if at all possible (and we realise that when circumstances change, this may not be possible) and send them your statement of income and expenditure to negotiate how you can begin to pay off any arrears.

 

2 Non-priority debts - send them your statement of income and expenditure and tell them you are trying to sort out your finances. Ask them to stop adding interest and charges and offer them £1/month.

 

THat is the basic plan. People in debt often find it really hard to even begin the process (it sounds like you may be in that position). As YB says, though, no need to be ashamed. You can get help and support in this - either fro others on CAG who are there or have been there or through something like National Debt Line. You could give them a call on 0808 808 4000

 

Don't despair.