Do's & Don'ts Of Debt - Debt Management Guide

• Do face up to facts.
  
  
• Do contact creditors and lenders as soon as possible.
  
  
• Do give priority to certain debts and pay them off before other debts.
  
  
• Do reply to creditors letters and court writs and summons promptly.
  
  
• Do review your expenditure and make sure you send copies of your review to your creditors.
  
  
• Do remember that creditors prefer small regular payments than large irregular ones.
  
  
• Don’t ignore your debt – It won’t disappear.
  
  
• Don’t give up trying to reach agreements with your creditors even if they reject your initial offers.
  
  
• Don’t borrow more money to pay off debts (unless with a debt loan that will cover all your debts after seeking independent advice).
  
  
• Don’t be threatened into accepting agreements with creditors that you cannot fulfil.