Find out what options are available if you cannot pay your debts.
You’ll be asked questions about:
- how much you owe
- your assets (such as property and possessions)
- your income
It can be difficult to manage bills, especially if they are starting to pile up.
That’s why we’ve pulled together a few tips to help you stay on top of your finances.
- Get organised. Get a folder and keep your bills in it. If your bills are digital, put them in a file on your computer. Keep track of when they need to be paid.
Need help managing your money?
- Choose a payment method that suits you. Direct debit is usually the cheapest and easiest way to pay bills, but there are other options. Find out more below.
- Check your bills regularly. This means you’ll spot any mistakes and will notice if your bills rise and fall. Pick a day each month and use a calendar or an app to make sure you don’t forget. You can check payments on your bank statements.
- Don’t let your bills get on top of you. If you’re struggling to pay your bills, don’t ignore the problem, because it will only get worse. Read more about how to deal with arrears below.
- Make sure you’re not paying too much.
Ways to pay your bills
Try setting up a separate bank account for your bills and transfer the necessary amount in there as soon as you get paid.
Paying by Direct Debit means your bills are paid on time, so you will avoid late-payment charges.
Some companies offer discounts for customers who pay by Direct Debit.
Pay online or phone banking
If you bank online or by phone, you can pay your bills directly.
It’s quick and easy and you’re in control of exactly what you pay and when, but you have to remember to pay your bills in time.
Other payment methods
Do you share responsibility for bills with your partner?
- By post – you can often send a cheque for the bill amount to the address provided by the business. Be aware it can take up to five days for them to process the cheque and receive the money from your account.
- Post Office – you can often pay a bill by cash or card at the Post Office. There can sometimes be a fee for using this service.
- Prepayment meter – gas and electricity can be prepaid by topping up a key or a card which goes into your gas or electricity meter. This is one of the most expensive ways to pay for energy and when you run out of credit, you’re out of energy.
Are your bills getting on top of you?
If you are having difficulty paying your bills, talk to the people you owe money to as soon as you can.
They might let you make smaller repayments until your financial position improves.