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Dealing with your Non-priority debts: if you have some money available
If, after completing your personal budget and dealing with any priority debts, you have some income, capital or other assets to offer to your non-priority creditors, there are a number of strategies that you can use. Remember, your non-priority creditors include:
- Bank overdrafts
- Unsecured personal loans
- Credit cards
- Store cards
- Social Fund loans
- Parking penalties
- Benefit overpayments
- Most Hire Purchase (HP) or conditional sale agreements
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We strongly recommend that you seek professional advice when deciding on how to deal with your debts and contacting your creditors. You will often find that creditors are more willing to help when they know that a third party organisation is involved – for more information on where to get help and advice, please click here. However, the following information can help you to decide on how you may wish to proceed.
Strategies for dealing with your non-priority debts if you have money available
If, after completing your personal budget and dealing with any priority debts, you have some income available to pay your debts, you may want to consider using one of the following strategies:
If you have no income available, but you do have some capital or assets you could use to pay your debts, you may want to consider using one of the following strategies:
Once you have decided on how you would like to deal with your debts, we would strongly recommend that you seek professional advice when dealing with your creditors. Please click here for more information on where to get advice.
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