Prioritise Your Costs and Debts in 2010
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Table of contents
Priority Costs in 2010
Prioritising your costs and debts means using your available money to settle the most important costs and debts first. Usually, the three most important priority costs are: 1. Mortgage and Rent If you fall behind on your mortgage, your mortgage lender could take legal action by repossessing your house and selling it on. Similarly if you fall behind on your rent, your landlord may try to evict you and take you to court to recover the money you owe. 2. Utility Bills Failing to pay utility bills such as your electricity or gas could result in providers disconnecting you. All of the above hold serious consequences that may affect basic survival and security, so it is important to address gas arrears and electricity arrears first. 3. Taxes and Court Fines If you fail to pay outstanding Council Tax or court fines the court could enforce bailiffs to recover goods from your home.Unsecured Debt and Non-Priority Bills
They include:- Credit card and store card debts
- Bank overdrafts and personal loans
- Catalogue arrears
This article was checked and deemed to be correct as at the above publication date, but please be aware that some things may have changed between then and now. So please don't rely on any of this information as a statement of fact, especially if the article was published some time ago.