Debt advice. From Resolve UK

Different creditors are allowed different ways of recovering their money in law, which should be taken into consideration when you schedule your payments to creditors.

Prioroty Creditors

These debts should be tackled first before dealing with secondary debts. Whilst all debts are important some are more important than others. The law gives different creditors different ways of recovering their money. If you don't act quickly some creditors could:

Take possession of your business premises, home or other premesis
Cut off supply of gas, electricity or water to your business or home
Instruct bailiffs to remove equipment, vehicles, furniture or other goods from your business or home
Ask the magistrates to send you to prison.

The debts where these things could happen if you delay too long are;

Debt	Possible action
Mortgage arrears	Repossession / eviction
Second Mortgage arrears	Repossession / eviction
ecured Loans	Repossession / eviction
Income tax, National Insurance	Distraint (Bailiff action) / bankruptcy
Council Tax / Community Charge	Distraint (Bailiff action) / Imprisonment
TV Licence	Fine / Distraint (Bailiff action) / Imprisonment
Water Rates	Disconnection
Gas / Electricity	Disconnection
Unpaid Court fines	Distraint (Bailiff action) / Imprisonment
Maintenance Arrears	Distraint (Bailiff action) / Imprisonment
Hire Purchase arrears (Essential Items)	Repossession of the HP goods

Secondary creditors

These have less power to recover debts, but should not be ignored. These include: -

Unsecured loans
Credit Cards
Unnecessary hire purchase agreements
Store cards
Catalogue and mail order
Mobile phone (disconnected)
Repossessed house or car loans

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County Court Judgments

If you fail to pay a creditor and don’t reply to their reminders there are several things that they can do.

If it is a secured debt for example, a hire purchase agreement they can repossess the goods without going to court if you have paid less than one third of the total sum. You will still have to pay the majority of the balance.[More..]

Bailiff harassment

Harassment of people in debt by creditors or their agents is a criminal offence under the Administration of Justice Act 1970.

It is often difficult to know what to do when you feel a creditor is not dealing with your account fairly. In order for you to identify what activities by your creditors may involve harassment and what can be done about the problem, this article outlines: [More..]

Credit Cards

For a great many of us the money runs out before the month does and then the temptation to use our credit cards to pay the bills kicks in. This is the beginning of the debt spiral and just what the credit card companies are counting on:. [More..]

Did you know...

According to a recent statement from the Citizens Advice Bureau, it could take 77 years on average for people asking for help with debt to get back into the black.

Britain's personal debt is increasing by £1 million every four minutes.