Plan Your Expenses 

It is always a good idea to do a monthly plan of your expenses.

Write all your outgoings down on a list and also plan for any events throughout that pay-day month, such as birthdays or weddings.

Then make a plan of how much you will be spending for living essentials such as food bills, mortgage repayments etc.

Having everything written down in black and white will help you work out your numbers more efficiently, and help you to budget your expenses for a month.

If you find that your outgoings are more than what you are bringing in, then it is important that you seek expert advice as soon as possible. Call Debt Free on 0808 131 0039 for free advice and a range of debt solutions.

Entering into an IVA may adversely affect your credit rating for up to six years from the date of approval.

Your property will be protected within an IVA but you may be required to release all or part of any equity during the period of the arrangement.

Failure to complete the term of an IVA can result in bankruptcy.

(In Scotland, a PTD is the equivalent to an IVA.)