Chapter 8: Dealing with priority debts

CPAG

1. Deciding on priorities

2. The general approach to priority debts

Prioritise the debts

3. Strategies for dealing with priority debts

Interest-only payments (for mortgages and secured loans)

Change from an endowment to a repayment mortgage

Reduced payments

Capitalise arrears

Scheduled payment of arrears

Mortgage rescue schemes

Sale and rent-back schemes

Sale of the property

Refinancing

Time orders

Voluntary charge

Deductions from benefits

Gas and electricity pre-payment meters

Writing off debts

4. Emergency action

Details

Debt Advice Handbook 14th edition

With living costs and unemployment rising, budgets squeezed and problem debt on the increase, no adviser should be without this essential guide to the practice and process of giving money advice in England and Wales.

CPAG’s bestselling Debt Advice Handbook provides the most comprehensive information needed by advisers on the key stages of money advice, including on interviewing clients, establishing liability, prioritising debts, preparing a financial statement, negotiating with creditors and dealing with bailiffs. Emphasis is placed on taking due care of vulnerable clients and making sure that any payment arrangements agreed are appropriate. There is a focus on sustainable credit arrangements that do not affect a client’s abilities to pay essential living expenses and priority debts.

Fully updated to cover all recent changes to legislation, caselaw and court procedure and practice, the Debt Advice Handbook is an indispensable resource for all debt advisers and is fully indexed, for ease of use, and crossreferenced to law, regulations and official guidance, and to court and tribunal decisions. Tactical guidance and examples are included throughout to help you navigate the complexities of the social security system.

Author(s):

CPAG

This content was last updated:2023-06-30

Print ISBN 9781910715734

Word count306,107

Base text size -

Chapter illustrations ()