Moneymanual - Dealing with Debt

A Self-help Guide to DEALING WITH PERSONAL DEBT

In the modern world it is not unusual for people to find themselves in difficulty due to debt problems - often through no fault of their own.

To help in such situations, Credit Action has produced this selfhelp guide. It is a practical manual that offers clear, step-by-step advice on all the major difficulties:

• How to prepare a financial statement
• How to prioritise your debts
• How to negotiate with your creditors
• Where you can go for help

This booklet, which is essential reading for people who feel trapped by rising debt, also includes a large number of ready-made letters for copying when writing to creditors. If you feel you need more help the Consumer Credit Counselling Service (CCCS) free helpline - 0800 138 1111 - is available Mondays to Fridays 8am to 8pm.

"Not many consumers feel confident in managing their money, and yet there are few parts of our lives that carry the same degree of risk if it all goes wrong. These booklets by Credit Action are simply invaluable."

Click here to download the whole book (PDF) 

CONTENTS

Introduction
STEP 1 Contact all creditors
STEP 2 Decide priorities
STEP 3 Prepare financial statement
STEP 4 Maximise income
STEP 5 Review expenditure
STEP 6 Negotiate with priority creditors
STEP 7 Negotiate with secondary creditors
Court proceedings
Conclusions - the future

Some DO's and DON'Ts

Because of the nature of this book, simplifications and generalisations have had to be made. Dealing with debt is often extremely complicated and therefore we cannot be held responsible for any action taken, or indeed not taken, by readers based solely on the contents of this book.

Anyone facing serious debt problems must seek expert advice.

Click here for the Credit Action Personal Money Management information sheets