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<strong>Prepare</strong> <strong>For</strong> <strong>Success</strong><br />
debts. After the highest rate debt is fully paid off, begin making larger payments<br />
on the next highest interest rate debt while still making minimum payments on<br />
the lower interest rate debts. Continue this process until all of the debts have<br />
been paid off.<br />
• y Contact the people to whom you owe money to explain your situation before<br />
collection agencies are involved. Some may understand and be willing to help you<br />
find a solution. <strong>For</strong> example,<br />
you might be able to arrange<br />
to make lower payments for a<br />
certain length of time.<br />
• y If your debt is the result of<br />
illness, there may be disability<br />
waivers for major loans and<br />
credit cards during the time<br />
you are not able to work.<br />
• y With your finances stabilized,<br />
you can make more considered,<br />
and therefore more effective,<br />
job and career choice<br />
decisions.<br />
• y If you feel that external help<br />
may be required to assist<br />
in addressing your financial<br />
challenges, a good place to<br />
start may be the UK’s Citizen’s<br />
Advice Bureau or an equivalent<br />
service which can help to<br />
set up a payment plan with<br />
creditors and stabilize your<br />
finances. Alternatively use IGH<br />
Money.<br />
Preventing Financial Emergencies<br />
Even healthy finances can be knocked off<br />
balance by the unexpected, such as loss<br />
of employment, family changes, legal<br />
problems, sudden illness or long-term<br />
disability. Taking steps to prepare for such<br />
occurrences in advance may help you avoid<br />
serious stress, possible financial crisis, and<br />
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