Despite the property boom and the fact that there has been massive drops in the numbers of homes repossessed, there are still many who are unfortunate.
In light of this, Cheltenham & Gloucester, part of Lloyds TSB, have issued a ten point plan to help people manage in difficult times with a view to people tackling problems early and talking to them straight away if they indeed do have financial difficulties.
Our view
If you are in difficulty and need help our view is always talk to you lender first. They would much prefer to be involved and try to help rather than finding out at the last minute, sometimes when it is too late to help, and after having sent numerous warning letters etc.
It does not matter whether it is a mortgage debt, credit card or other. You are more likely to receive a 'sympathetic ear' if you get them involved early.