Dealing with debt
It is easy to get into debt at any age. Advertising, special offers, sales and finance deals in shops can trick us all into buying things that perhaps we do not need.
Being in debt may lead to many other problems too. It can affect your health and you may experience feelings of anger, guilt, stress, panic and fear. Your relationships may also suffer as you become more and more stressed.
For those who go on to higher education, getting into debt is also a problem. Taking a part-time job may help some of your money problems but getting the balance between work and study is important.
What to do if you are in debt
- Get help - your local Citizens Advice Bureau offers free and confidential advice. They will be able to help you begin to budget and look at ways to manage your money
- Think about your situation - make a list of your outgoings (what you spend) and your income (the money you get in wages, benefits etc). Be honest - this won't work if you are not totally truthful about what you are spending. See if there are any ways you can reduce your spending
- Don't panic and try not to borrow more money. Get advice - there are other ways to manage your debt
- Talk to the people you owe money to - they may accept lower payments if you are honest about your situation
Check out the contacts listed below for help, advice and information.
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Citizens Advice Bureau
The UK's largest advice provider they are equipped to deal with any issue, from anyone, spanning debt and employment to consumer and housing plus everything in between.
An independent view on the new student finance arrangements
Free advice on how to deal with debt problems
The Money Advice Service
Free, unbiased, independent money advice
Helping people access benefits and grants