Managing debts tips

How to be good with money in tough times

• Prioritise your debts - if you have more than one debt, take care of vital ones such as utility bills, mortgages or council tax first, but your next priority should be the ones with the highest APR - they'll cost you more in charges.

• Don't know where to turn? - speak to your lender or bank. It's in their interests to help you get back on track - so usually they're happy to try and work out a solution to the problem. And the sooner you do this, the more options you may have.

• Check your credit rating - get hold of your credit file from any of the three main credit reference agencies (Experian, Equifax or Call Credit). A credit report costs just a few pounds but the information is priceless. And you can change your rating if it's incorrect and stopping you getting credit.

• Don't ignore money problems - if you feel you're in a lot of financial difficulty then act fast. Contact the Citizen's Advice Bureau, the National Debtline or the Consumer Credit Counselling Service and get some free, independent advice from the experts.