Saturday, 19 June 2010


GOOD DIY? Get Out Of Debt - Do It Yourself!

Debtors are not a homogenous body - we each have different circumstances and responsibilities. Awareness of the various approaches to managing debt is essential to getting out of it. Successful decisions are not made in the confusion of fear and anger.




This self-help pack is rather neat: it uses plain language, has columns to make notes and gives real-life examples, as well as a sample letter to creditors. It is ideal for taking the first step in creating a Statement of Affairs and approaching creditors with this. Remember creditors are human - they want payment for whatever goods and services you have purchased, just as you would!

Any skipped payment is potentially a default, so aim to show willing. If you haven't calculated an offer yet, attaching a small or token sum to a letter which states your circumstances can create goodwill. Keep it small though, until you are certain of any more, as it is not essential to do this. If you feel confused or find circumstances intimidating after you have made initial contact, seek help

Funded by a network of professional financial and legal practices, The Insolvency Helpline was founded in 1997 (the last recession in fact!) to provide commercial debt counselling services. If you need more support than their guide can offer, the agency will refer you to the paid services of one of its member practices.

Zero-credit advises you to explore both the free and paid debt counselling services mentioned on our site, because choice puts you back in control! Oh, and of course, you have our guarantee that Zero-credit is free to use and free from advertising or sponsorship!

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