Print out the form below and keep it for your personal use, by completing the income and repayment section on the form you will have a full overview of the debt position.

By reviewing the questions below you will see if actions are necessary. If there is a negative (-) balance of income -

1. Is this short, medium or long term?

2. Have you contacted your creditors to explain your situation?

3. What effect is the debt problem having on your:

• Morale? - Employment?
• Health? - Business?
• Family? - Future?

4. How long will you be in debt? i.e. say the total level of unsecured debt is £27,500 and you are currently repaying 'reduced' payments of, say £190.00 per month it would take 12 years to repay assuming no interest charges or creditor actions (which is unlikely).

5. If creditors have agreed reduced repayments and/or to freeze interest charges:

• Are they asking for reviews of payments, if so when?
• Will your income improve to allow you to make the increased payments?

6. If creditors are threatening legal action:

• Are you aware the consequences?
• Are you receiving advice on court summonses, appearances, judgements, bailiffs, attachment of earnings, garnishee orders, oral examinations, statutory demands, bankruptcy petitions, winding-up orders?

7. Are creditors continually contacting you by letter, phone, at home at business if so:

• Are you keeping them updated on your situation?
• Are they accepting reduced payments?

Will your income increase sufficiently in the future to allow you to pay the original repayments and arrears? If not - What effect will the increased worry and uncertainty have on you?

CLICK HERE FOR THE FORM

Very important
If you are concerned about your situation - please contact us. At the very least without cost or commitment we can outline how to effectively negotiate with your creditors. We can also fully explain how it is possible to legally, with your creditors approval, significantly reduce levels of unsecured debt making the new repayments affordable to you.