Gambling may seem like an easy way to make money and to pay off increasing debts – but the chances of a big win are rather small…
Signs of a developing debt problem:
Borrowing money from friends/family and not being able to pay them back
Arrears with household bills (mortgage or rent, gas, water, electricity and Council tax)
Cutting back on key household items (such as food, clothes etc.)
Increasing need for unsecured/secured credit for consolidation
Regular use of payday loan companies
Secured and unsecured credit commitments not being met
County Court proceedings being issued
Bailiffs calling at the home
Beginning to get yourself out of debt can seem daunting at first as you may not know where to start. With help from specialist debt advisors, the most important debts can be addressed quickly to prevent any harassing phone calls or further legal action being taken.
These debts are called priority debts – they include:
- Mortgages There are serious consequences of falling behind with payments as you could lose your home.
- Rent Not a mortgage, but you could still lose your home.
- Council Tax Local Authorities have lots of different ways to make you pay; they may try to use bailiffs, take it from your benefits or ultimately you could be sent to prison.
- Secured loans (second mortgages, consolidating loans) As with mortgages, you could lose your home.
- Utilities Payments on gas and electricity you’ve missed in the past are considered a priority because you could be disconnected. The companies offer a number of alternatives to having your supply disconnected. You can no longer be disconnected for not paying your water bill but as it is essential for the running of your household it should be considered a priority.
- Court fines and child support There is a possibility of being sent to prison if you have to go back to court for not making payments.
- TV licence It is a criminal offence to use a TV without a valid licence.