Be Debt Aware This Christmas

Christmas is a time where there is a huge temptation to splash the cash and ensure that you spoil loved ones with expensive gifts and provide an extravagant feast for a house full of guests. With concern on the levels of household debt rising, this is a good time to stop and think before increasing your levels of debt. 

 

Make sure…

YOU UNDERSTAND THE AGREEMENT YOU ARE ENTERING. 

  • Do not sign a contract until you understand exactly what you are signing up to. If a contract is in German, ensure you seek translation assistance.
  • Check what the rates of APR will be and work out how much interest you expect to pay. 
  • Understand the repayment plan. Ensure this is affordable to you on a monthly basis and that you have a plan for any lump sum final payments.

UNDERSTAND THAT ALL DEBT MUST BE REPAID.  

  • Debt can follow you – you may be pursued by debt organisations and the courts. 
  • In addition, any unpaid debt left in Germany can lead to arrests on re-entry to Germany. 

Get on top of it before it gets on top of you… 

DON’T STICK YOUR HEAD IN THE SAND, GET HELP!The worry of being in financial debt can put immense pressure on relationships, which can lead to marital breakdown and affect children.

EMBARRASSED? DON’T BE!There are a number of agencies across BFG who operate without passing information to the chain of command and offer free confidential services with professional trained staff. 

BE HONEST - MAKE A LIST OF DEBTS! Prepare a budget, decide on the main financial commitments and cut down on non-essential spending. If you are struggling, get help!

Help is available… 

MONEY ADVICE SERVICE 

We are an independent service, set up by government to help people make the most of their money; we give free, unbiased money advice to everyone across the UK – online, over the phone and face to face.

www.moneyadviceservies.co.uk 

MONEY FORCE 

Money Force is the home of money guidance for UK Service personnel and their families.

Whether you're dealing with debt, interested in investments or puzzled about payday loans, Money Force will arm you with all the information you need to get Money Fit.

www.moneyforce.org.uk 

TAKE ACTION NOW! Agencies such as: Home-start, RELATE, SSAFA Forces Help, AWS or the Royal British Legion all offer support and advice. If they can’t help you, they will signpost you to the right organisation, depending on your circumstances.