It might not be quick or easy to solve your debt problems, but it’s important to remember that they’re not unsolvable. The sooner you start to deal with them, the easier it is.
First, you need to work out whether you’re in debt crisis or not. To do this, ask yourself the following questions:
- Am I struggling to pay all basic outgoing, including mortgage/ rent, energy bills and credit card minimums?
- Are my debts (not including a mortgage) bigger than my yearly after-tax income?
If you answered yes to either of these questions
You may be in a debt crisis. Don’t panic - there is always a path back to stability and facing your debts will speed up the process and make you feel ten times better.
If you answered no to both questions
You may not be in a debt crisis, but it doesn’t necessarily mean you don’t have debt problems. There are steps you can take to prevent them from becoming a crisis.
The fact you’re reading my article and answering those questions is a great first step. You can’t deal with a problem until you have acknowledged that there is one.
You don’t have to face your debt problems alone. As Silva’s Money Advisor, I can help you tackle them and reach the light at the end of the tunnel.
If you’re concerned about your finances, please email me and I’ll be able to help: firstname.lastname@example.org
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We offer a free benefits advice service for our tenants and leaseholders, to help them understand which benefits they are eligible for and how to claim them. While we cannot provide home visits or meetings in our office at the moment, due to Covid-19, you can still book a phone appointment with a member of our revenue team. All the information we discuss is treated confidentially.