Millions of people all over the country suffer from being in debt – it’s a common problem and one that affects many. Whether it is a mortgage, a payday loan, a student loan or a personal loan, people everywhere are in the midst of debt recovery.

This article will aim to highlight some of the key tips, advice and guidance of dealing with debt that could ultimately help ease the worries of your credit deficit and help to pay back the money you owe.

Don’t stress

While this may be easier said than done, it’s vital that the debt you’re trying to pay off doesn’t become a reason for stress and anxiety in your personal life. You need to find a healthy balance of managing your debt. Yes, it’s important not to ignore the credit repayment, but, at the same time, you shouldn’t let it worry you and overtake your day-to-day activities. Remember, many people are in the same boat as yourself – it’s not a unique situation and it shouldn’t put a halt on your life.

Forget more loans

Whatever loan companies might tell you, a loan is not a good idea for paying off debt. Think of it logically; why would you attempt to get yourself out of debt by putting yourself into more debt? It doesn’t add up, does it? The answer to debt recovery is certainly not another loan!


It’s always worth looking into certain entitlements and credits that you could be eligible for. You could be surprised with the extra cash injections that you could be eligible for – especially if you’re only earning a certain amount or have an extended family to cater for.

Set a budget

Setting a weekly budget can be an excellent way to help build up the funds necessary to pay off your debt. Start by assessing all your outgoings and ask yourself ‘Is everything you spend your money on compulsory?’. Here are some ideas to help you get the ball rolling.

  • Downgrade your satellite TV package.
  • End your gym membership and find ways of exercising for free.
  •  Stop your monthly mobile phone bill and resort to a pay-as-you-go tariff, using only texts to communicate.
  • When food shopping, turn to the supermarket’s own brand of products.

Get advice

Need any more help or advice in dealing with your debt? Be sure to get in touch with the Citizens Advice Bureau who employ trained professionals to deal with any type of situation. Don’t be afraid of asking for help, it could help your debt recovery in the long run.