Sound advice as Littlehampton debt cases soar

Debt cases dealt with at the town's Citizens' Advice Bureau (CAB) last year were up by 50 per cent, and now the organisation is urging people to take a long, hard look at their finances and plan ahead.

So far this year the number of inquiries from people with money problems has continued to rise, and on one day recently, every single query at the bureau involved debt.

Now the CAB is underlining the message that prevention is better than cure, and Luca Badioli, debt specialist at the Littlehampton bureau, has issued the following advice:

'¢ if considering taking out a loan, look around and get the best deal;

'¢ be wary of consolidating debts and putting your home at risk;

'¢ plan to build up an emergency savings fund;

'¢ shop around for the best savings rates and best bank deals;

'¢ check out tax-efficient ways to save money, such as cash ISAs;

Check your entitlements

'¢ be wary of low interest credit card transfers '” check the terms and conditions carefully;

'¢ don't automatically renew your car/holiday/house insurance without comparing prices;

'¢ ensure you are getting all relevant benefits/tax credits/tax rebates etc. The CAB can check this for you;

'¢ if possible, try to plan and save for holidays and Christmas by setting up a standing order to a savings account.

For those already in financial difficulty, Luca's advice is to:

'¢ avoid borrowing further to try to pay off existing debt;

'¢ talk to your creditors '“ they may be more understanding than you expect;

'¢ work out how much you owe and how much you need to pay your priority debts '“ i.e. mortgage, rent, gas, electricity, council tax '“ don't pay whoever shouts loudest first!

'¢ only offer to pay off debts at a rate you can keep up;

'¢ don't forget, Littlehampton CAB is part of the largest free, independent advice-giving organisation in the country '“ use it.

The bureau is at 14/16 Anchor Springs, Littlehampton.

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