​First Steps                                                     

If you are worried about debt:                                                                                              

✓ Don't ignore letters or emails from creditors.

✓ Make a list of everything you owe.

✓ Work out exactly how much money comes into your household each month.       

✓ List your essential household spending.

✓ Stop borrowing to pay existing debts where possible.

✓ Contact creditors early.

✓ Seek free independent debt advice.

 

Remember:

Most creditors would rather agree an affordable repayment plan than receive no payments at all.

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Priority and Non-Priority Debts

Some debts have more serious consequences than others.

 

Priority Debts

These should usually be dealt with first.

Examples include: 

• Rent or mortgage arrears 

• Council Tax 

• Gas and electricity

• Water bills

• Magistrates' Court fines 

• Child Maintenance

• Income Tax

• National Insurance

• VAT (where applicable)

Missing payments could result in eviction, court action or loss of essential services.

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Non-Priority Debts

Although still important, these generally have fewer immediate consequences.

Examples include:

• Credit and Store cards

• Personal loans

• Overdrafts

• Buy Now, Pay Later agreements

• Catalogue debts

• Friends and family loans

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Create a Budget

Understanding your finances is one of the most effective ways to regain control.

Make regular use of our Budget Planner to help you work out you income, expenditure

and what is left over each month. 

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Speak to Your Creditors

Many organisations will:   

• reduce payments  

• freeze interest 

• pause charges

• agree repayment plans

• offer temporary breathing space

• Don't wait until legal action begins.

• Contact them as soon as possible.

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Avoid High-Cost Borrowing

Wherever possible avoid:

• Payday loans

• Loan sharks

• High-interest credit

• Unregulated lenders (check for an Financial Conduct Authority registration)

• Taking on any additional debt to repay existing borrowing

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These can quickly make financial problems worse.

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Government Help 

Depending on your circumstances you may be entitled to:                                  

• Universal Credit   

• Council Tax Reduction

• Personal Independence Payment

• Attendance Allowance

• Housing Benefit

• Armed Forces Compensation payments

• War Pension

• Veterans UK support

Checking your entitlement can improve your financial situation significantly.

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Breathing Space Scheme

The Government's Debt Respite Scheme may provide eligible people with temporary protection from most interest, fees and enforcement action while they receive professional debt advice.

A debt advisor can tell you whether you qualify.

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​Veterans and Debt

Many Veterans experience financial difficulties following:

• Leaving military service

• Relationship breakdown

• Ill health

• Mental health difficulties

• Bereavement

• Redundancy

• Unexpected household costs

 

Seeking help early is a sign of strength, not failure!

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Trusted Organisations

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​StepChange Debt Charity

One of the UK's largest free debt advice charities.

Website: www.stepchange.org 

Telephone: 0800 138 1111                                                    

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​National Debtline

Free independent debt advice.

Website: www.nationaldebtline.org

Telephone: 0808 808 4000

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Citizens Advice

Advice on debt, housing, employment

Website: www.citizensadvice.org.uk

Find your local office via the website

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Additional Support

If debt is affecting your mental wellbeing, consider speaking to:

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Your GP

NHS Talking Therapies

Op COURAGE (for Veterans in England), VETERANS FIRST POINT (for Veterans in Scotland), NHS VETERANS WALES (for Veterans in Wales)

Combat Stress

PTSD Resolution

Rock2Recovery

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