1) Consolidate and Manage Debt
Now is not the time to bury your head in the sand. Instead, by being proactive and reviewing your debts, you could actually save money and pay everything off over a shorter period of time.
- How much do I owe?
- What interests rate am I paying?
- How much can I realistically afford to repay each month?
Once you have all the answers, you can consider your options which may include consolidation (taking out a single low interest loan to repay everything), balance transfers to zero or low interest rate credit cards or a debt management plan.
There are also a number of specific options linked to the COVID-19 pandemic but they must be actioned by 31st October 2020. More information about these can be found in the TT Wealth complete guide to ‘Getting My Finance In Order’ which you can download by completing the form below: