LAD operates in Cambridgeshire. 'Face to face'
advice is available in St Neots via drop-in and in Huntingdon by
appointment. Our phone and email service covers the whole county. See
for full details.
LAD knows about debt. Some of the team have been there
themselves. They came out the other side. So can you!
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How does it feel to be in debt?
This famous quote sums it up nicely
Annual income twenty pounds, annual expenditure nineteen [pounds] nineteen shillings] and six [pence], result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
Stated by Mr Micawber in 'David Copperfield'
If you are in debt:
Here are a few don'ts ...
- Don't continue to spend money you don't have! It's not essential for either you or your kids to have expensive clothing/presents or the latest gadgets. People that look down on you for not 'keeping up with the Joneses' are just ignorant. It can be exhilarating to be your own person.
- Don't bury your head in the sand and hope that your debts will magically disappear. It doesn't happen!
- Don't just move out of the area in the hope that your debts won't follow you. People are easily traced.
- If you owe money on your mortgage, home rental, council tax or utility bills, don't pay other debts first, just because someone is pressing you.
- Don't just hand in house keys to your mortgage lender. Sale of the house will not necessarily cover what you owe and the debt will follow you.
- Don't take out a loan to pay off existing debts, without weighing up all the pros and cons. This is rarely the best approach. You should certainly never borrow from a loan shark.
- In general, it's not a good idea to borrow from friends. If you can't pay them back you are likely to lose their friendship and you need all the friends you can get when you are feeling low.
- Try not to stress too much about your situation. Being in debt is very worrying but you will be surprised how much better you feel once you share your situation with someone who genuinely wants to and actually can help you.
and some do's ...
- Budget your money. Use one of the online budget planners to help you. The one at
www.moneysavingexpert.com/banking/Budget-planning looks worth a try. You will find plenty of money saving tips on the Money Saving Expert website but don't be tempted to spend money you don't have if you spot a 'bargain' on there that you don't actually need!
- Prioritise your paments; making those that keep a roof over your head, retain your liberty (prison is a possiblity for Council Tax debt) and keep you warm/able to cook before trying to cover your credit cards, etc.
- Keep copies of correspondence. You should retain/copy anything received from or sent to creditors so you have a complete record of your dealings with them. It will be invaluable if/when you seek help. A few debts are unenforcible and having a copy of the contract makes it much easier to determine whether you need to continue to make payments or not.
- Seek help from Life Amid Debt. We won't judge you and will help you to sort out your finances, make arrangements with your creditors and point you towards a debt-free, far less stressful future. The sooner you seek advice the better.
Our service is FREE and entirely CONFIDENTIAL.
Contact us today!