Debt

If you are having money problems, you may be tempted to ignore them and hope they will go away.

Being in arrears on your mortgage means that you have missed some or all of your mortgage repayment. If you can’t meet your mortgage repayments, or you’re worried you might fall behind, you should contact your lender as soon as possible as missing a mortgage repayment could have a negative effect on your credit rating.

If you are having problems making your car repayments you have several options. These depend on what type of finance agreement you have.

If you have credit card debt and are only making the minimum monthly repayment, it can feel never ending. This is because the minimum repayment you make might be only a little higher than the interest each month so the amount you owe will reduce very slowly.

Consolidating debts means putting all your outstanding loans into one loan.