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Debt Diaries

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5 - Debt Diaries: Become Debt Free in Ten Steps - Priority Debts


BankFodder

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It is possible to categorise any type of debt in to one of two types. Priority debts are the more important ones as non-payment of these could cause you to lose something. Examples of priority debts include mortgage or rent arrears, council tax arrears, utility arrears (if the arrears are with your current provider) and magistrates’ court fines. Some priority debts come with somewhat draconian enforcement possibilities, some can even lead you to prison for non-payment. You should always ensure that you set up arrangements with your priorities before making arrangements with your non-priority credit debts. I could spend weeks writing about this vast area; instead I’m going to link to excellent information that has already been written by National Debtline. 

So, in a nut-shell, priority debts are the ones which could affect:

•    Your property (including the roof over your head)
•    Your utilities (although you cannot be cut-off for non-payment of your water arrears)
•    Your liberty 

Although priority debts may take a little more work to get sorted it is more than possible to get affordable arrangements sorted in no time at all. What follows are links covering the various different types of priority debts that there are (all courtesy of the National Debtline website)

Priority debts as a whole:

England/Wales:
http://www.nationaldebtline.co.uk/england_wales/pdf/self-help-pack/step-3-dealing-with-your-priority-debts.pdf

Scotland:
http://www.nationaldebtline.co.uk/scotland/pdf/self_help_pack/priority_debts.pdf

Mortgage Arrears:

England/Wales:
http://www.nationaldebtline.co.uk/england_wales/guide.php?page=guide-mortgage-arrears

Scotland:
http://www.nationaldebtline.co.uk/scotland/pdf/self_help_pack/mortgage_arrears.pdf

Rent Arrears:

England/Wales:
http://www.nationaldebtline.co.uk/england_wales/guide.php?page=guide-rent-arrears

Scotland:
http://www.nationaldebtline.co.uk/scotland/pdf/self_help_pack/rent_arrears1.pdf
http://www.nationaldebtline.co.uk/scotland/pdf/self_help_pack/rent_arrears2.pdf

As you can see from the links, priorities are a massive area. If you are struggling with any of yours you must seek advice straight away.

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