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Where do I start?

If you are struggling to repay debts, it can be difficult to know where to start.

My Money Steps will help you take four important steps to get your debts under control.

  • Increase your income

Check whether you can get any extra benefits, tax credits or other help to boost your income.

  • Work out a financial statement

Your financial statement will show what you need to spend each month and how much you can afford to pay towards your debts. You can use it to make agreements with the companies you owe money to.

  • Deal with your priority debts

Some debts are more important than others because the law gives different creditors different ways of getting their money back. For example, if you are behind on your mortgage, rent, gas, electric, council tax, court fines or child maintenance, you need to deal with these debts as quickly as you can. We'll tell you which of your debts are priority debts and what you can do about them.

  • Deal with your other debts

Decide how to deal with your other debts, such as credit cards, overdrafts, catalogues and payday loans. We'll tell you what options you have and what you need to do to get started.

My Money Steps will give you step-by-step advice based on your situation. You can use our sample letters and fact sheets and you can tell My Money Steps if your situation changes and get new advice. My Money Steps is free, independent and confidential.


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