TAKE CONTROL OF YOUR CREDIT

WHATEVER you do, don’t bury your head in the sand. The sooner you take action to get debt under control, the easier it will be.

If you are paying interest on credit card debt, switch whatever you owe on to a 0 pc balance transfer card (see our Money Best Buys on page 48).

This will mean that every penny you repay will go towards clearing your debts, instead of simply helping to line your bank’s coffers.

Try to pay more than the minimum repayment each month, even if that means you have to cut back on spending elsewhere.

If you have money in savings accounts earning a paltry rate, you may be better off using this cash to clear any expensive debts.

Avoid payday loan companies at all costs. Their rates are extremely expensive and using them can damage your credit score. If you are worried about money or debt, speak up. Tell your bank if you think you’re about to miss a payment or exceed your overdraft limit. You may be able to come to an arrangement with them until you’re back in control, and so avoid doing any harm to your credit score.

There are also many debt charities that can help with advice and support. Call StepChange on 0800 138 1111, the Debt Advice Foundation on 0800 043 4050 or the Money Advice Trust on 0808 808 4000.

Macmillan Cancer Support can give guidance on which benefits cancer patients can claim and offer financial support — call 0808 808 00 00.

Age UK also offers free advice, targeted towards older people who are struggling with debt — call them on 0800 169 65 65.

And MoneySavingExpert has a helpful guide to managing problem debt at moneysavingexpert.com/ debt-help