Problems with Debt: Difference between revisions
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To deal with a ''debt'' problem, you first need to work out how much money you owe. To do this, make a list of all the people and companies you owe money to (your ''creditors''). | To deal with a ''debt'' problem, you first need to work out how much money you owe. To do this, make a list of all the people and companies you owe money to (your ''creditors''). | ||
You need to collect the following information for each debt: | You need to collect the following information for each debt: | ||
* the name and address of the creditor, | * the name and address of the creditor, | ||
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It is a good idea to keep the latest letter or statement for each debt together in one place so that you can easily find them if you need them. | It is a good idea to keep the latest letter or statement for each debt together in one place so that you can easily find them if you need them. | ||
[[File:ConsumerLawGuidePage10A.jpg| right | frame | link=| <span style="font-size:60%;">Copyright www.shutterstock.com</span>]] | |||
==What do I put in my budget?== | ==What do I put in my budget?== | ||
The next step is to work out your budget. Your budget lists how much money is coming into your household and how much you need to spend. | The next step is to work out your budget. Your budget lists how much money is coming into your household and how much you need to spend. | ||
'''Income:''' List all the income for your household. Make sure that the amounts are realistic. Include all of your current sources of income: | '''Income:''' List all the income for your household. Make sure that the amounts are realistic. Include all of your current sources of income: | ||
* wages, | * wages, | ||
