By reading this post you have taken the first step!!

Do a Full Financial Fact Find on Yourself

Doing a full income and expenditure on yourself is an important step to take in order to understand your financial health. This will help you to set a budget and make informed decisions about your financial future. To do a full income and expenditure, you should first make a list of your income sources (job, investments, etc.). Next, you should make a list of your expenses (rent, bills, food, entertainment, etc.). Then you should subtract your expenses from your income to get a sense of how much money you have left over after living expenses. Finally, you should create a budget and plan for how you’re going to use that money. Making a full income and expenditure can help you to stay on track with your financial goals. On this page you will find the Income and Expenditure Form to download. Holidays, Christmas and Birthday Presents etc should be ZERO, as creditors may want that too!

What is the Solution to Your Debt

Once you have done a full financial fact find on your self, you will instantly see whether or not you just need to adjust your spending habits, or the situation is more serious than you thought. If you just need to change your lifestyle a little, the you just need to act fast and make those changes to get you back in the black. If however, you still not able to get your finances back on track, you need to act fast. Don’t just read about it, but actually start the process of doing something about it!

Seek Advice on Getting Out of Debt for Free Online

Seeking free advice online to help get out of debt can be a great way to start the process. There are many resources available online that can help you understand the basics of debt and credit, as well as provide practical tips and advice on how to get out of debt. Many websites offer calculators, budgeting worksheets, and other helpful tools. Additionally, there are forums and blogs where people can share advice and experiences. This can be a great way to connect with others who are in a similar situation and gain insight into the best strategies for getting out of debt.

Seeking Advice on Getting Out of Debt Locally

Seeking free advice from Citizens Advice on your debts can be a great way to get help with your financial situation. Citizens Advice provides impartial and confidential advice to help you understand your rights and responsibilities, and to make sure you’re able to manage your debts in the most effective way. They can provide advice on managing your money, budgeting, dealing with debt collectors, and understanding your rights in court. They also offer advice on debt consolidation, bankruptcy, and insolvency. They are available to provide advice either in person, over the phone, or online. With their help, you can get back on track and manage your debts in a way that works for you.

Getting Debt Advice form Companies Offering Debt Solutions

Seeking debt advice from fee charging companies is not advised, as these companies often charge high fees for their services and may not provide adequate advice that is tailored to your individual needs. It is much more beneficial to contact a non-profit credit counselling agency or a government-sponsored financial counselling service, as they provide free or low-cost advice that is tailored to your specific financial situation. These agencies will also help you create a budget, negotiate with creditors, and provide other services to help you get back on track with your finances. If ever you are offered an IVA, then treat this advice with caution!!!! Companies make a lot of money from administering Individual Voluntary Arrangement.

Do Not Ignore Letters from Creditors

It is important to take all letters from creditors seriously and not ignore them. If you are being chased for a debt, the best thing to do is to contact the creditor directly and explain your financial situation to them. Tell them that you are in the process of seeking advice and do not let them be the ones to advise you! It can also be worthwhile making a token payment of £1 to your creditors, as this shows that you are willing to resolve the problem. Just act fast and work out what the best debt solution is for you.