Get your money in order with the Money Advice Services' budget planner. it's much easier than you think. If you are moving to Universal Credit, our budget planner will help you track you budget and help you plan your money.
It's tempting to pay with plastic, but use the Money Advice Services' credit card tool to see how much your credit card is actually costing you. Find out how long it will take to pay off your existing cards.
British Gas has a special trust fund which can make hardship payments to those struggling with gas & electricity bills. You do not need to be a British Gas customer – everyone is eligible to apply. For further details see: www.britishgasenergytrust.org.uk
United Utilities run a similar trust fund for those struggling with their water bills. Full details available at: www.uutf.org.uk
The Citizens Advice website has a useful overview here on how to deal with your debts:
The following questions in this section also provide more information on the options discussed.
What is bankruptcy? Is it suitable for me?
Citizens Advice has a full guide to bankruptcy available on their website here:
What is a DRO? Is it suitable for me?
Debt Relief Orders (DROs) are orders issued by the Official Receiver which enable people to write off certain debts.
To help decide if a DRO is appropriate for you, see here for a full guide to DROs:
What is an IVA? Is it suitable for me?
An Individual Voluntary Arrangement (IVA) is a legally-binding agreement between an individual and his/her creditors concerning the repayment of debts. IVAs can prevent creditors from taking enforcement action and often lead to debts being partially written off, although there are certain risks to consider.
Further information about IVAs is available here, including a checklist to help decide if an IVA is right for you.
What is a DMP? Is it suitable for me?
A DMP (Debt Management Plan) is an arrangement with creditors to pay back a debt over several instalments. Click here for further information.
Debt Relief Orders (DROs) are orders issued by the Official Receiver which enable people to write off certain debts. To help decide if a debt relief order is appropriate for you, see the Citizens Advice website for a full guide to debt relief orders: Debt relief orders
An Individual Voluntary Arrangement (IVA) is a legally-binding agreement between an individual and his/her creditors concerning the repayment of debts. Individual voluntary arrangements can prevent creditors from taking enforcement action and often lead to debts being partially written off, although there are certain risks to consider. Further information about individual voluntary arrangements is available on the Citizens Advice website, including a checklist to help decide if an IVA is right for you
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