Get your finances back on track and survive the ‘credit crunch’

We know how extra pressures on the household budget can affect people, often through no fault of their own says the Civil Services own charity, The Civil Service Benevolent Fund. Anxiety, loneliness, relationship breakdown and problems at work are all associated with money worries.

The best way to get yourself back on track is to take steps to sort out your finances as soon as possible. If you hide away from it, you’ll only be worse off.

The Fund have put together some simple steps to follow helping you assess what to do first and are listed in the panel below:

TEN golden rules in helping you out of debt

• Don’t panic – all debts can be sorted out, no matter how big or how many
• Do open and read all letters
• Always respond positively and quickly to any letters you receive
• Don’t make promises you can’t keep
• Tackle your home and fuel bills first
• Don’t be afraid to make small offers that you can pay regularly
• Don’t borrow money to pay off debts
• Always keep copies of letters that you write
• Keep notes of telephone calls made to creditors and take names of people you speak to
• It’s never too late to seek advice and assistance

Organisations that can help:

Credit Action is a national money education charity dedicated to helping educate individuals and families in all aspects of money management. Telephone: 020 7436 9937. Website: www.creditaction.com

Money Basics is web site operated by Credit Action and is primarily aimed at helping people avoid the problems that over indebtedness can bring. Website: www.moneybasics.co.uk

The Financial Services Authority (FSA) is the UK’s financial watchdog and by using their website www.moneymadeclear.fsa.gov.uk you can follow their guide to making your budget work for you. You can also call on their Consumer Helpline: 0845 606 1234.

The Civil Service Benevolent Fund make grants, loans and allowances to help people who are struggling with unexpected difficulties in their daily lives. Log onto our website for details at www.csbf.org.ukFreephone 0800 056 2424.