If you find that after being made redundant or losing your job you begin to suffer debt problems then please call 0800 074 6918. The advice team at E-insolvency are here to help people with debt arising from redundancy or loss of work.

The E-insolvency.co.uk debt advice team are at hand if you are concerned about debt problems relating job loss through redundancy and job loss.

Although when it happens it may seem like the end of the world, redundancy, loss of work and loss of employment can be an opportunity to really get to grips with debt problems.

If you're in debt and you are finding it hard to cope, it's important to deal with the problem straight away - the longer you ignore your debts, the worse the situation becomes.

If you're struggling with debts, they may seem impossible to manage. However, there are ways to get out of debt, no matter how bad the situation seems. And there's plenty of free advice available to help you.

• Consider Accident, Sickness and Unemployment insurance.
  
  
• Don't arrange to take out any further credit. You will only find that you will get yourself into worse trouble.
  
  
• Make a list:
  
  
  • Of all the people you owe money to
  • How much you owe to each one
  • What type of debt it is. This could be credit cards, mortgage, overdraft etc. You should include companies even if you are up to date with your repayments.

• Increasing your income

  You may be in debt because you're not receiving all the money you're entitled to.

  For example, it's advisable to:

  • make sure you're not paying too much tax
  • check whether you're entitled to tax credits
  • ensure you're receiving the benefits you're entitled to
  • make sure that any family and friends living with you are paying enough towards household expenses
  • think about renting out a spare room to a lodger
  • check whether your mortgage payments are covered by insurance
  
  
  
• Prioritise your debts listing those that have a drastic sanction like repossession i.e.: mortgage arrears (you will need to agree on repayments of these debts first).

• You may have to enter into an Individual Voluntary Arrangement (IVA) or declaring yourself bankrupt

• Calculate the total amount of money you will have available either on a weekly or monthly basis.
  
  
• Check to see if you are entitled to any benefits. You may be pleasantly surprised.
  
  
• Work out your expenditure and see if there is any way you can cut back but don't underestimate the amount you spend on essential items like food and fuel.
  
  
• Subtract your expenditure from the available money you have each month.

• Get in touch with your most important creditors first and try and re-negotiate your monthly repayments. Split any remaining money you may have from your calculations between your other creditors.
  
  
• If you feel you can't cope handling your debts yourself, contact a professional organisation such as The UK Insolvency Helpline

Regularly reviewing personal finances such as bank accounts, mortgages, pensions and savings is a good way to stay out of debt , however it is easy to over commit on your monthly payments for example, hire purchase orders, mobile phone contracts and changes in personal circumstances, such as losing your job, having an accident or separating from a partner, can send peoples finances spiralling out of control. Please call 0800 074 6918 for further advice