Can’t Afford Minimum Payments?
If this applies to you, you should . . .
- Write down your income and expenditure - as accurately as possible - using our budget sheet
- Work out what’s left (it might be negative)
- Think about reducing expenditure and increasing income
- Join the Money Saving Expert Credit Club to get your free Credit Report to get an update on your debts
- Negotiate with your creditors (start with Rent, Council Tax, Gas, Electric, TV Licence)
- Offer small amounts to each creditor to start paying off your debts
That’s the basic idea - but some of these steps can be complicated – if you’re struggling with this, please get in touch with us or another free debt advice agency such as CAB, StepChange, Community Money Advice , Christians Against Poverty or PayPlan.