Prioritising your debts

If you're unable to meet your repayments, you'll need to know which debts to address first as some are more important than others and have different consequences if you fall into arrears.

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Priority debts

Priority debts must come top of your list, as non-payment can have serious implications. These can include disconnection of your utilities, repossession of your home, bankruptcy and even imprisonment. However, lenders prefer not to take legal action against you, and will try to agree other solutions if they are aware of your circumstances. Priority debts are:

Your mortgage or any loan that is secured against your home
Council Tax
National Insurance, tax and VAT
Utilities (gas, water, electricity) and telephone – your current suppliers only
Child maintenance
Court fines
Hire Purchase agreements, such as your car
TV licence
County Court Judgments (CCJs)

Before deciding what action to take, check first whether you are missing out on any benefits or paying too much for things like your utilities, insurance, satellite or mobile phone packages. The section on Money saving tips provides advice on how to do this.

Always prioritise the debts that keep a roof over your head and your utilities supplied.
If your budget looks achievable with a few economies, get a plan in place today.
If in doubt seek independent advice.

Have you got a debt problem?
First steps to recovery: Taking stock of your situation Prioritising your debts
Finding a solution
Money-saving tips
Expert debt help
Useful information

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