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 prepayment meters

Writing off debts

4. Emergency action

Details

Debt Advice Handbook 15th 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.

Who’s this book for?
It is essential for debt advisers, welfare rights advisers, lawyers, local authority and housing association staff, social workers and union official.

What does it do?
The handbook provides the most comprehensive information needed by advisers on the key stages of money advice, including interviewing clients, establishing liability, prioritising debts, preparing a financial statement, negotiating with creditors and dealing with bailiffs. Fully indexed and cross-referenced to law, regulations and official guidance, and to court and tribunal decisions Includes tactical guidance and examples

What's new?
Fully updated to cover all recent changes to legislation, caselaw and court procedure and practice 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.

Author(s):

CPAG

Print publication date Feb, 2024

This content was last updated:2024-09-11

Print ISBN 978 1 915324 11 5

Word count297,915

Base text size -

Chapter illustrations ()