There is a lot you can do to sort
out your debts. Find out with our
Debt Advice
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Debt Management - helping you to be debt free.
Don't panic
No need to bury your head in the sand. There is a lot you can do to sort out debts yourself. If you get stuck, you can get help from your local CAB or National Debt line.
Crystal Clear Finance will be able to help you. Don't borrow any more money without getting independent advice first, assessing your current income and expenditure.
Don't ignore letters
Many people bury their head in the sand because they feel that if they ignore the creditors or Bailiffs, that their problems will go away. This is wrong because avoiding creditors can make your situation worse and increase your debt from charges and interest.
Make sure you contact all the people you owe money to (your creditors) and tell them you are having difficulties and are taking steps to sort it out. Our consultants can advise you further on different approaches available.
Make a list of all your debts
Always keep all paperwork in one place; this includes bank statements, letters of intent, court orders, bailiff notice etc. If you are not sure how much you owe, write to your creditors for the outstanding balances. Make sure you keep copies of your letters and make a note of any telephone conversations you have and the name of the person you spoke to. If any of your creditors have started court action or you don't think you owe the money, get advice from your local CAB office or from one of our Crystal Clear consultants whom will be able to assist you.
Work out a budget
People make inaccurate commitments to creditors when they really cannot afford it. This is why it is essential that you work out a realistic budget which consists of your income and expenditure so you have enough money to live on and you don't have to borrow or go without essentials, such as food, rent, utilities bill etc. Once you have calculated your disposable income, you can then negotiate with your creditors in reducing the debt. You can get blank budget sheets and information on how to fill them in from your local CAB or by phoning National Debt line.
What if a creditor refuses my offer?
Don't give up. Keep paying what you have offered to pay. There's still plenty you can do to persuade your creditors to accept your offer. Crystal Clears advisors are experts in this area and can persuade your creditors to accept your offer.
What happens next?
Always ensure that you keep to the agreed payment plan. If your circumstances change, contact your creditors to explain or change your agreement. After a period of time, your creditors might want to look at your situation again. Don't panic, just work out your offer again and send it to them. If your situation has not changed, they should let you keep to your agreement. If you get any court papers, make sure you reply within the times stated and get advice from your local CAB office or one of our consultants at Crystal Clear Finance.
Get advice
If you need further help or advice Contact Crystal Clear Finance for free advice.
Email us: info@crystalclearfinance.com
Phone us: 0208 980 8100
Consumer Credit Counselling Service www.cccs.co.uk online debt counseling, budgeting advice Helpline: 0800 138 1111 Consumer direct www.consumerdirect.gov.uk information on reducing your fuel bills Helpline: 0845 404 0506 Financial Services Authority www.moneymadeclear.fsa.gov.uk interactive tools for budgeting and borrowing, information and leaflets.
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