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Personal Financial Advice

Personal Debt

Admitting that you are struggling and seeking help is an important first step towards resolving your debt problems.  It is important not to be embarrassed or ashamed to disclose all the debts and financial difficulties because ignoring the problem and not replying to correspondence will make matters worse.

There are positive steps that can be taken:

  • Stay calm and try not to feel guilty or afraid, even when threats are being made.
  • Don't be tempted to borrow more money to pay off existing debts, this can create even more problems, unless first seeking independent advice.
  • Make a list of ALL your creditors and debts.
  • Prepare a statement of your financial position, detailing your income, living expenses and other commitments, and the balance (if any) available to clear your debts.
  • Communicate with your creditors so that they are aware of your situation, they will usually respond sympathetically to genuine problems once they are aware of them.
  • Communicate with your family and friends so that you can share your problems and work together towards a solution.
  • Money problems often arise from or lead to family, health or emotional pressures and it is important that you seek professional help for these related problems too.
  • KEEP GOING! Don't despair, clearing your debts can be a long process but the end results will be worthwhile and will put you back in control of your financial situation.

There are various agencies who can give specialist free advice:

  • Credit Action Helpline 0800 591084 (freephone) is available Monday to Friday 0930 to 1700
  • Local Citizens Advice Bureau (see telephone directory for details)
  • The National Debtline 0808 808 4000 (freephone)

Army families can also approach their local Army Welfare Worker or SSAFA Forces Help.   The SSAFA Forces Help central office is 0207 4038783, who will provide local contact numbers.

There is also a booklet which can assist you in your financial problems is available from Unit Welfare Offices or RAO's, A Self-Help Guide to Dealing With Personal Debt (AC 63968).