Firstly write down a list of all your Debts, with Debt Amount and Monthly Payments
Make a List of your household Income and Household Expenditure
Try and Cut back on monthly spend, Eg:

• Drop down or cancel Sky Tv packages,
• Shop around for Car / House insurances,
• Do your food shopping at different shops, some are cheaper than others,
• also buy shops own brands, the food quality is exactly the same as named brands.

Try and Open a second back account and use this as your bills account, set up all your household direct debits from this account and transfer enough money into this account every month.

If you can start managing your finances better and living within your means, this is the ideal way to become debt free, but, if you find you can’t make your monthly payment then you need to look at debt solutions such as:

• Debt Management Plans (DMPs)
• Individual Voluntary Arrangements (IVAs)
• Consolidation Loans
• Bankruptcy