Managing your debt
What can you do if you are having problems repaying your debt? If you start falling behind with payments it is very important to take action.
Some types of debts are more serious than others. The student loan has very low interest and is paid back after your studies.
Always deal with priority debts as the implications of not making these payments is far greater than non-priority debts.
When do I need to seek advice?
If you are feeling uncomfortable about your circumstances you should seek advice as soon as possible.
However you should contact us urgently if:
- You have defaulted on a minimum payment
- You are getting calls and/or letters from banks/creditors.
How do I deal with debt?
- Budget
Have you made a budget? It is the first step to determine how easily you can pay back your debts.- Talk to your creditors
You can talk to your creditors and negotiate lower repayments on outstanding balances.- Get advice
Talk to a student advisor. Our service is free and non-judgmental.