Payment Problem
If you find that if you have a payment problem and you are unable to make the full repayments to your creditors it is time to address the problem now. Similarly if you make the problem repayments but now you don't have enough money to live, you need to do something today.
Examine how much you spend on various items and ask yourself whether this is an essential item. Be realistic. Do not leave out items such as clothes and medical expenses and don't leave yourself struggling with the house keeping. The second step is to work out your total monthly repayments to your creditors. Compare this with the amount of money you have left at the end of each month - it will be easy to recognise whether there is a payment problem. If you find that you have a repayment problem and the repayments to creditors are higher than the amount of money you have left at the end of the month, go to the section on debt solutions to discover the alternatives available to you. |
Your first step is to assess your payment
problem by looking at your income and expenditure. and
calculate how much money you have left after essential
expenses.
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Important note: The information on this and all pages on this website contains a summary of basic information on debt and debt consolidation issues. It is not a substitute for legal advice. Some provisions of the law referred to may have important exceptions or qualifications. This document may not contain all of the information about the law or the exceptions and qualifications that are relevant to your circumstances. You will need a qualified professional advisor to take into account your particular circumstances and to tell you how the law applies to you.