A practical plan for your debt.

Make a list without judging yourself

For each debt, record creditor, current balance, rate, minimum or instalment, due date and arrears. Use statements rather than memory. Do not publish account numbers or personal details here.

Build a payment plan you can maintain

1. Protect essentials

   Set aside housing, food, essential utilities and health. Calculate what remains for debt.

2. Review required payments

   If affordable, keep up required minimums or instalments and direct extra money to one debt.

3. Choose an order

   Avalanche: prioritize the highest rate to reduce interest under comparable conditions. Snowball: start with the smallest balance to close accounts and build consistency.

4. Repeat and adjust

   When a debt is paid off, you can direct that payment to the next one. Avoid new purchases that undo progress.

If you cannot cover the payment

Contact the creditor through its official channel before agreeing to a plan. Request the total amount, term, rate, fees, credit-record consequences and completion document in writing. A smaller monthly payment can increase total cost.