Dealing with Debt


Many people get into debt at one time or another, often as a result of circumstances outside their control. Losing a job, separating from your partner, rising interest rates, the pressures of providing for a growing family – all of these can make it difficult to manage a household budget.

Bills can mount up and before you know it, the financial pressure can seem overwhelming.

It doesn’t have to be this way. With the right help and advice, you can get control of your finances. It may take some time and it requires some commitment but it is possible and it is worth it.

Top tips

  1. Don’t ignore the problem. These kinds of difficulties only get worse if they are left alone. Confront your problems early, get the help & advice that you need, and commit to action. Write to your creditors as soon as you become aware of any issue
  2. Write up a budget. An accurate budget provides the only effective basis for dealing with your creditors and agreeing repayments that you can afford. Download our budget planning tool to guide you.
  3. Reduce your outgoings. With your budget to hand, work with your financial advisor to identify areas where you can save money. Check out our money saving resources for other opportunities to save.
  4. Tackle the most important debts first (with a solid plan). Protect your home and other assets by making those payments first, then work with your other creditors to agree affordable repayment terms that are fair to everyone. Download our guide to dealing with debt to help you.
  5. Know  your mortgage options. Your personal & financial circumstances have changed. Contact an independent financial advisor and discuss your options. Agreeing a repayment level that you can afford makes it a little easier to pay for the other essentials each month and removes the stress of worrying about the family home. Check out the mortgage section for more information
  6. Get control of your credit cards. The fastest way to save money on interest is to stop using your card and pay it down as quickly as you can. Check out tame your credit card for some ideas
  7. Know your entitlements & claim every cent. Many people miss out on tax refunds, social welfare benefits, and payment protection payments because they simply don’t know what they are entitled to.
  8. Don’t give up. Keep trying to agree an offer with your creditors and pay whatever you can afford in the meantime. Seek the help and advice that you need, and stick with your plan

If you need help

If you need help, or you want to talk through your circumstances in person with a sympathetic,
experienced advisor, please don’t hesitate to contact us on 1890 25 33 41 or send us an email: [email protected]

Download our free guide

More information