can you tell me if avoiding credit card would be a good souce of avoiding actions or organizations

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Asked 11/3/2011 7:08:52 AM

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User: can you tell me if avoiding credit card would be a good souce of avoiding actions or organizations

Weegy: Yes,
Expert answered|patmarone|Points 1870|

User: what actions can they take to avoid debt

Weegy: Steps to avoid debt: Step one - make a list of everything you owe You should sort out exactly what you owe and who you owe it to. The people you owe money to are known as your creditors. [ If you owe money, you are known as a debtor. Step two - put your debts in order of importance The most important debts are known as ‘priority debts’ and they aren't always the biggest ones. Priority debts are ones where serious action can be taken against you if you don't pay what you owe. For example, you could lose your home, be disconnected from a service or even go to prison. Step three - work out a personal budget Work out a weekly or monthly budget to see what your income and expenses are, it can also show you where you can save money. A budget will help you decide what you can reasonably afford to repay your creditors, so it’s important to be realistic. You can get free and independent help working out your personal budget from organisations like Citizens Advice and the National Debtline. There are also self-help packs and online tools you can use to help you. Personal budgets – how they can help you Use the Money Advice Service budget plannerOpens new window Step four - get advice on the different ways to deal with your debts There are lots of options for dealing with debts. For example, arrangements you can make with your creditors or more formal ones that debt specialists can organise for you. There are sometimes extra costs involved and conditions you have to agree to. It’s important you get independent advice to help you find the best way to deal with your debts. Free and independent advice is available face to face or over the telephone from organisations like Citizens Advice and the National Debtline. Debt repayment options - a guide Debt - where to get free help and advice Make sure you deal with your priority creditors first Step five - talk to your creditors Once you know what you can afford to repay, talk to your creditors about your situation and what you're going to do about it. A debt adviser can do this for you, and some will do this for free. ]

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