Budgeting
When you start to make a budget, debts are divided into two categories; Priority Debts and Non Priority Debts. Priority Debts are debts that are the most important because these have serious sanctions if you do not pay.
Remember
Priority Debts have sanctions that must be considered when planning your budget, the sanctions are as follows;
Imprisonment
Loss of Home
Loss of Essential Goods or Services
Priority Debts
Mortgage Secured Loan
Rent and Rent Arrears
Council Tax
Utility Bills
TV Licence
CCJ
Magistrate Fine
Hire Purchase
Maintenance
Benefit Overpayment
Tax Credit Overpayment
Income Tax
National Insurance
VAT
Download our list of sanctions for non payment here
