Debt

Getting into debt can be easy: new clothes, going out with your friends, not to mention expenses such as food, housing, travelling, etc. Getting out of debt is, however, another matter, particularly if you're used to spending a certain amount each week - getting out of the habit can be difficult.

The temptation can be to ignore your bills and hope they'll somehow disappear. Unfortunately debts don't just go away and unless you make efforts to reduce your debt you might find some of your goods repossessed (taken back) by the company you bought them from. In other circumstances you might find yourself taken to court by the people you owe money to or even 'blacklisted' as a bad risk for credit - this could affect your ability to get credit in the future, e.g. applying for credit cards, a mortgage to buy a house etc.

Getting out of debt can sometimes just be a question of budgeting/managing your money more effectively - checking out where you can make spending cuts so that you can use pay off your debts gradually. In other instances, depending on the amount you owe, you may need advice and support to reduce your debts.

If you need more advice on debt, contact your local Citizens Advice Bureau or ring the National Debtline on: 0808 808 4000 or go to the National Debtline Website.