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Be Proactive With Debt And You Will Have Less Stress & Problems


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So your income is being devalued over time with inflation, you are struggling to pay bills and debts, maybe using one payday loan after another, or your credit card to pay off another credit card, so month on month you are digging a deeper hole rather than filling it in.

 

This causes untold stress, problems, it may even effect your relationship with the love of your life.

 

As soon as you realise you are slipping into a routine like this get control of it straight away. This may sound SIMPLE.... well it is SIMPLE.

 

Creditors want the money back but these days they are used to people struggling and are usually more than happy to come to a deal with you.

 

So fill out a budget sheet (free on the internet), work out what you can pay each creditor while leaving yourself some spare, then contact all your creditors, include in the cover letter that this month you will make a 'token' payment while they make a decision, say £5 to each creditor. This should then help you clear the payday loan loop.

 

If you can't do this yourself, contact Stepchange and they will do it for you, it is FREE :madgrin:

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DEBT DIARIES

 

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3: Banking Conduct of Business Regulations - The Hidden Rules

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5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

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