If you find yourself knee-deep in debt it can be hard to know where to turn. We offer some practical tips on finding out what help is available to you.
It’s important not to panic about debt problems, as this will make them seem worse than they are. On the other hand, debt should not be ignored, as it will only get worse until it is tackled head-on. A good place to start is finding out the best places that can help you.
The first step to reducing your debt is acknowledging that you are in debt. When you have realised that this is a reality, you can begin to address it. Fortunately, there are many organisations out there that can help you with advice, support, and real solutions – without charging you a penny.
Before contacting these organisations for assistance, it may be helpful to make a list of all your debts and who you owe money to. You can also find out if you might be eligible for any financial assistance by checking what benefits you’re entitled to.
Where should I go for help?
When you are in debt and need advice to help your finances recover, the best organisations to go to are those that are free, reputable, and independently-based. One such worthwhile pit-stop is your local Citizens Advice Bureau.
Citizens Advice are independent, impartial, and confidential, and importantly they won’t ever charge for their services. They can provide you with much-needed help if you are struggling with debt.
- Find your nearest Bureau for face-to-face advice here.
There is also a mine of useful information available on the Citizens Advice website – find answers, fact-sheets and in-depth advice to debt problems. Advice from the Bureau is also available by telephone, by home-visits, and by email.
Other free, non-profit organisations that are worth a visit include:
- CCCS (Consumer Credit Counselling Service)
- National Debtline
- Christians Against Poverty
- Community Legal Advice
- PayPlan
What help will they give me?
Free organisations such as the ones listed above can help you in a variety of ways.
- Help you with drawing up a budget and prioritising your debts.
- Help you make a realistic plan of how you will deal with your debt.
- Show you how you can best deal with your creditors yourself, or they can negotiate with your creditors on your behalf.
- In some circumstances they can even represent you in court.
Perhaps most importantly, they can provide you with free, unbiased support when you most need it. Talking through your debt problems with an advisor at one of these organisations could be just the help you need to begin realistically sifting through and sorting out your debts.
What should I avoid?
If at all possible, avoid borrowing more money in an attempt to aid your debt problems. Invariably, this will always lead to the accumulation of more debt and consequently more stress for you.
It is also prudent to avoid the attention-grabbing advertisements on TV that offer quick-fix solutions. In almost all cases you will be charged money for any ‘advice’ you receive, and even if this seems a reasonable price to pay in order to help you clear your debt, it is never the best solution. Companies who offer these services tend to be more interested in making money out of your unfortunate circumstances, rather than actually helping you.
Instead, solicit help from organisations such as the ones listed above, whose only interested is helping you out of debt without gaining in any way themselves.
