The most important debts are called ‘priority debts’. These are ones that can cause you serious problems if you do not deal with them quickly. Priority debts include:
Rent or mortgage
If you do not pay them, you could lose your home.
Loans secured on your home
If you don’t keep up the payments, you could lose your home.
If you do not pay, you could end up with a bailiffs’ visit, which will increase the amount you owe, and could mean your belongings are taken away to pay the debt.
Gas and electricity bills
If you don’t pay your bills, you could be disconnected.
If you refuse to pay, you could be fined or even sent to prison.