Learn How to plan and organise a budget

Debt Advice, Debt Help and Support available to you

It is easy to become unhappy, stressed and ill when you are in debt problem. Having very little money is hard enough but owing others money you don’t have adds a whole new dimension to the stress. Being in debt throws up a load of anxieties such as:

·         How am I going to afford to pay my rent or bills of next month?

·         My debt will never go away. Interest is added every day and only one way to pay it back is taking out another loan.

·         My family, friends and relatives will be so ashamed of me when they find out.

·         Will I have to go to court?

·         What happen when I lose my house?

·         Will my partner leave me?

·         My children will think that I am a bad parent.

·         Will I always be dissatisfied?

·         I will never be able to afford the lifestyle as I want.

Debt can lead to the breakdown of relationships, problem at workplace and the development of serious mental health problems. Sometimes, people believe the only way to escape their debt is to kill themselves.

Steps for getting out of debt

·         Make a list of all the money you owe and who you owe it to.

·         Priority debts that could lead to you losing your home, losing services or in some cases being sent to prison.

·         Work out a budget for your income and expenses so you can begin to work out what you can afford to repay.

·         Get an advice from a reputable debt counselling organization to deal with your debts.

·         Be realistic about what you can afford to repay and don’t assume you will be able to pay back more in future.