Many people are beginning to feel a squeeze on their money as financial times become harder. So it’s really important to keep an eye on your finances so it doesn’t get out of hand and puts your home at risk from repossession.
Remember if you are summoned to court for mortgage arrears
...“If you don’t attend you can’t defend”...
Always make sure your mortgage payments are your first priority to pay.
Where should you start?
• It now might be a good time to sit down and make an honest view of your finances and decide on whether there is a problem. Ignoring it won’t make it go away. You can start this process by reading the information on our debt advice page 'the debt toolkit' and filling in the 'personal budget sheet' and also by clicking on the 'Get advice now' image to the left to download a copy of the latest government advice booklet.
• Consider how you might be able to reduce your monthly spending – be honest with yourself about the things you can really live without.
• Work out a realistic budget and make every effort to try and keep to it.
• Consider negotiating with your creditors to reduce your monthly payments. For example; utility bills and credit cards.
Copyright © Southampton City Council 2009
