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but what they will give you is breathing space that you badly need, in order to get your debts sorted.

PEOPLE YOU OWE MONEY TO

People that you owe money to want your money, but they really don't want to take you to court for it. It' s a costly and lengthy business. They may threaten you with it, but if your debts have been allowed to get to this stage, it really is time to face your demons and talk. If you can take with you details of income and a plan for payment at a lower level, they would rather you did that than to threaten you. Financial institutions that run credit cards will allow you to pay them off in smaller amounts until you are in a position to pay everything. Here, if you make an agreement to a set amount, never let them down. The agreement will be subject to payments being regular and on time.

Utilities need informing if you cannot pay your bills. They don't want you to go without electricity or gas, telephone or cable, as they value you as a customer, but they really don't want to be messed around with non payments. Speak to each supplier. Tell them honestly if you cannot afford payments because if they know, they can make allowances for you and help you through that period of shortfall. For telephone for example, you could switch to a minimal account like incoming calls only until you have paid, cutting down expense, and trimming away the temptation to build up more bills.

AN ACCOUNTANT

Talking to an accountant at the Bank will be free, but if you want to talk to one independently, what they are able to teach you is how to draw up spreadsheets and keep yourself on top of finances with preparation, knowing what money you need each month in advance. An accountant will be able to look at your personal situation, talk you through it, and help you see the other side of the hill.

FAMILY

Which is more important ? That your daughter has her prom dress or that you have the electricity to warm the home ? Probably both, though if you talk to kids and family and ask them to save in any way they can on wasting money, what you get is a rapport and understanding. If a daughter for example is willing to economize in some way in the house by not demanding so much washing and ironing, or not telephoning too much, that economy adds to the wealth of the family and perhaps when the family all pull together, that dress can be hers, though working for it together really is a healthy way out of debt.

No one likes debt. It's ugly to know that you cannot live within your means, and society has this notion that people in debt are losers, though go on to promote even more ways of getting into debt. It's an unfair world with the wrong people giving the wrong advice. When the advertisements offer you money for nothing, can you honestly believe their sincerity ? Think about talking to the Bank, an accountant and those people you owe money to, share your thoughts with the family without getting too upset and irrational, and by working together for the same goal, that talking will have been worth the time spent on it, and you will get to the top of the debt mountain, and begin to appreciate that smelling the roses is a nicer place to be than buried by even more debt.

Learn more about this author, Rachelle de Bretagne.
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