Dealing with debt

Money Problems?

Money worries, especially debt, can have long standing effects on your health as well as having wider implications to you and your family. If problems are not dealt with they can snowball into desperation. It is important in these situations to seek help and advice. One Vision Housing staff work with a number of agencies that can help you work towards resolving your problems in complete confidence.

Do you have a Debt Problem?

Most people struggle from time to time to make ends meet without necessarily having a debt problem. Life can often throw up additional unforeseen costs that result in you being short of money. There are however some key indications that you may have a debt problem. Are you:

  • Struggling to meet minimum credit card payments?
  • Having to borrow money to pay for day to day living expenses?
  • Borrowing to meet outstanding debt repayments?
  • Missing rent or mortgage payments?

If you are experiencing any of these problems please contact us as soon as possible, or ring our partner Jubilee Debt Advice on (0151) 482 6089.

Priority Debts

Priority debts are debts that are more important than other debts due to what can happen if you do not pay them.

  • Mortgage and rent – not paying these can result in you and your family losing your home and being made homeless.
  • Council Tax – can result in additional fines or even a prison sentence if not paid.
  • Fuel Bills – can result in you being cut off.
  • Court Fines, Child Maintenance and TV Licence – can result in further fines or prison sentence.

These are examples of the most important bills that need to be paid before any other as they will have a direct effect on your quality of life if they are not.

Other Debts

These debts are still important as you may have signed legal contracts with service providers and credit companies:

  • Credit Cards
  • Personal Loans
  • Hire Purchase Agreements
  • Mobile Phone Contracts
  • Catalogues and Mail Order accounts

You may have a legal obligation to pay them, however it is more likely that you will be able to negotiate more affordable repayment plans with these providers.