TAKING THE FIRST STEP

You’ve taken the first step – which is starting looking at what debt advice is out there there! Before you go any further, get prepared! If you are ready with everything you need you are likely to get the correct advice, first time and minimise the number of calls or visits made to your debt advice provider.

Step by Step guide to getting ready for Debt Advice

Work out what you owe:

Collect letters or statements from each company you owe money to including name, reference, balance and contract information the better.

INCREASE YOUR INCOME

Increasing your income could also mean you don’t need to look at a debt solution – consider the below options and make the checks using our suggested links to see if there are opportunities to give your household income a boost!

• Are you on the correct tax code? Grab a wage slip and click on this link for more information on tax codes, how to check it and what to do if you are on the wrong code https://www.gov.uk/tax-codes
• Could you take on a second job or overtime? Ask your line manager or HR department if there are any opportunities for you
• Depending on space in your home you could take advantage of a tax free income with the government ‘Rent a Room’ scheme by taking on a lodger –read this CAB article before taking it any further https://www.citizensadvice.org.uk/housing/renting-a-home/subletting-and-lodging/lodging/taking-in-a-lodger-what-you-need-to-think-about-first/ and then if it is something you want to consider the following site will explain how much you are able to earn from taking in a lodger before you pay tax https://www.gov.uk/rent-room-in-your-home/the-rent-a-room-scheme
• Check whether you are eligible for benefits, additional benefits or an increase in these by contacting your local benefits office or: https://www.gov.uk/browse/benefits/entitlement https://www.gov.uk/benefits-calculators https://www.turn2us.org.uk/

REDUCE YOUR OUTGOINGS

• What do you pay for monthly? Check your bank statements and make a list of all your outgoings,  how you pay them, and when they are due. Visibility of what and when you need to pay items can sometimes reduce the risk of missing payments.
• Spring clean your finances – Get rid of any subscriptions and monthly outgoings you can live without! Check with your providers to see if you are on the cheapest tariff for your gas, electricity, water, mobile phone, internet etc. you never know what you might save!
• Are you eligible for funding for your utilities? The best place to start to find out more about this is at the Citizens Advice.

TAKE ACTION

Are you ready to take action now? Here’s some more advice for consideration when tackling your debt and financial concerns and choosing where you go to for help and support:

• Never ignore the problem – Our clients tell us that they feel significantly less stressed and overwhelmed just from talking it through with someone who listens, and has the knowledge and experience to give advice.
• Consider all available options – Weigh up the benefits and potential pitfalls of each option, take your time, talk it over with your partner and get expert advice. Do not rush into making a decision, do not allow anyone else to rush you – the choices you make now will affect your financial future.
• Take action – Problems rarely go away on their own. Support and solutions are always available.
• Seek independent advice – We are only a phone call away and are happy to call you if you submit your details here (online enquiry tool), however, there are also other places you can go to for advice, which are free and impartial, such as MoneyHelper which is a great source for advice on all things money and debt related.
• Good luck – We hope you find what you are looking for and start working towards a debt-free future. We would greatly appreciate any feedback you wish to share with us on our website and the advice we have shared, any communications you have with our employees and anything we could do better.

FREE SOURCES OF DEBT AND MONEY ADVICE

Free Sources of Debt and Money Advice

• Scottish Government Money and Debt Help
• MoneyHelper Dealing with Debt
• The Insolvency Service
• Citizens Advice Scotland Debt & Money
• Northern Ireland Dealing with Creditors