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Here is a copy of the OFT Information Sheet, that you will probably receive if you are in arrears with a debt:

Arrears

If you are behind with payments and have received an arrears notice here is some important information to help you.

Don’t ignore a problem.

• Contact the organisation you owe money to. Let them know you are having problems. They may be able to discuss options for paying back what you owe.
• Get free help and advice. Your rights and options depend on the type of agreement, and the law can be complex. You can get free independent help and advice from a number of organisations – see over the details.
• Paid priority debts first – for example, mortgage, rent, council tax, or gas or electricity arrears. A debt adviser can help you to budget to keep your finances under control.
• Think carefully before borrowing money to repay debts. Get advice before borrowing against your home – you will pay more in the long run and you risk losing your home.
• You may be able to ask a court for more time to repay debt – but only in some circumstances. Speak to a debt adviser before considering court action. Keep copies of letters and e-mails in case these are needed in the court.

Doing nothing could make things worse.

The lender could take legal action against you, and you could end up paying more in interest and charges. Missed payments could affect your credit rating and make it more difficult to get credit in the future.

So if you do have a problem, why not give me a call or drop me a line?