Question

Jon,

My benefits have been cut by the extra £20 a week, I lost my job due to the pandemic, and cannot afford to live, let alone pay the credit cards I have. I am at wit’s end as to how to handle this mess!

Jane

Answer

Jane,

While it is a difficult period of time, try to take a moment and relax. There are answers and solutions.

A few questions, such as how much in total do you owe, and to what credit card companies?

Have you spoke with them regarding your situation?

They may be able to offer payment holidays or just paying £1 a month under a token payment plan.

There also is the question of what insolvency options you may have? These will depend on how much you owe and if you have any assets or surplus income. I realise on benefits you will not have any surplus income.

The main thing to do is to concentrate on your priority bills, rent, gas, electricity, food, the other bills/debts will have to wait.

Get back to me and we can discuss this in more detail and put a plan together. That is what I do.

Regards,

Jon

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