Ask Grace: debt management advice for the new year
HOMELIFE | ASK GRACE
December 2023
January can be a difficult month, especially if you received your salary earlier than usual in December, or you’ve spent more than usual on food or presents over the festive period.
We’ve put together some advice on how to start recovering from seasonal debt:
Help to manage your debt
The first step to effectively manage debt is to make a list of exactly how much you owe and to where. This can be separated into priority and non-priority debts:
- Priority debts should always be dealt with first because if you don’t pay them it could lead to serious consequences, like loss of your home, or some essential services.
- Non-priority debts could have less serious consequences but whoever you owe money to may pass the debt to a bailiff or register a county court judgment against you, which could affect your credit rating.
You’ll find a list of things that might be a priority debt for you on the Citizens Advice website.
If you are finding it hard to make ends meet, we can help:
If you are a resident in the North West, please email our Customer Support team or call us on 0300 777 7777. The Customer Support team is available to provide free, confidential and impartial advice on budgeting, benefits (including tribunal hearings) and debt.
If you live in another L&Q area, please contact our Pound Advice service. This free, confidential service offers impartial advice on budgeting, benefits and debt.
You can also access support through organisations like Stepchange, who offer free debt advice and work out budgets and solutions so that you can get your life back on track.
Other ways to reduce your debt
Kick-start your career
Is your New Year’s resolution to improve your pay, change your career or go after that promotion?
Our Employment Support Leads offer dedicated advice and guidance sessions to L&Q residents. They provide one-to-one bespoke support and have access to live vacancies sourced directly from employers.
If you would like to book an appointment, please register your interest.
Help dealing with stress and looking after your mental health
The new year can be difficult for some people, and there may be moments when you feel you can’t cope or it’s too difficult to manage how you feel. During these moments it's important to remember you’re not alone and that you deserve support.
If you’re struggling with your mental health, then speak to your GP. They act as the gatekeeper for all mental health services and will be able to refer you on to services that are right for your needs.
Mind provides advice about understanding and managing stress.
Samaritans provide support 24 hours a day, 7 days a week. They offer a listening ear to anyone suffering from distress. You can phone them on 0161 236 8090 or 08457 909090 or send an email.