How to manage your debt

If you find yourself struggling with debt for whatever reason, here are some options that could help you:

• maximise your income - look at different ways of increasing your household income, for example:
• ensure you are getting all the relevant Social Welfare benefits applicable to you - contact the Department of Family and Social Affairs or visit www.welfare.ie
• verify if you are in receipt of all the relevant Tax Credits - see www.revenue.ie
• claim Mortgage Interest Relief - see if you're entitled to help with your mortgage in the form of Tax Relief at Source (TRS) - see www.revenue.ie
• review the terms of any Payment Protection policies you might have - it could help cover your payments.
• review the terms of any other protection policies you have - such as life/mortgage protection or critical illness protection.
• reduce your spending - try to cut out things you don't need, shop around for bargains and keep a 'spend diary'. Visit sites like www.sei.ie for tips on saving energy and www.callcosts.ie for competitive phone and internet connection rates. Ask us about Anytime Banking*, which will help you budget more effectively.
• plan a budget - this can be tough, but it can really help you to clear your arrears bit by bit. If you know how much money is coming in and going out, you'll know just how much you need to meet your bills. Use our Moneysense Budget Planner to help you get a clear picture of your situation.