1.Don’t panic and don’t ignore the problem, it won’t go away!
2.Don’t take out more credit or put more on existing credit, like your credit cards – you’ll only get yourself in worse trouble.
3.Talk to a specialist advice worker who can negotiate with creditors on your behalf.
4.Don’t pay off the person who is shouting the loudest, but pay the most important ones like mortgage, rent, council tax and utility bills.
5.Don’t ignore court papers.
6.Check your income and see if there is anything you are entitled to that you are not getting. For example, council tax benefit or tax credits.
7.Look carefully at your spending and see if there is anything you are able to cut down on but don’t be over ambitious or you will not stick to it.
8.Work out how much you can realistically afford to pay.
9.Think twice about taking out a loan to pay off all your debts. You may end up paying back a lot more than you borrowed and at very high interest rates.
10.Be careful of creditors offering to help you with your debts. Seek advice from an independent agency that will work on your behalf to clear your debts in the shortest time possible.
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