Credit Tips

Below are some general tips to helping you with different levels of debt:


• Short Term Problems

  Causes:
  Perhaps you are between jobs, suffering illness or have had unexpected bill. These can all put you in debt for a short period or put you through a period where money is very short.

  Tips:
  Create a simple budget sheet for yourself that shows your income and what you have going out. If you find that you have more going out than you have coming in then that is a good time to cut your spending or Contact Us so that we can take you through ways of paying off your short-term debt quicker.
  

• Debt Indigestion

  Causes:
  You are finding life difficult because much of your income goes towards credit card and loan repayments.

  Tips:
  Add up all your credit cards and think about taking out a loan to consolidate the debt. The average Loan interest rate is half that of credit card rates, so significant savings are possible.
  

• Going Backwards

  Causes:
  Your debt in consistently increasing because your income isn't enough to cover your expenditure.

  Tips:
  Prioritise your debts by finding out which ones must be paid and which ones can wait. For example, if you don’t pay your mortgage you will lose your home. Mail order debts are often unenforceable unless there is a written credit agreement in place. And don’t be afraid to say no to the company that shouts the loudest or hassles you most.
  

• Out of Control

  Causes:
  You are steeped in debt and cannot pay all your bills on time.

  Tips:
  Contact Us