It is important to keep track of your priority spends
Some spends are called priority spends because the consequences of not paying are very serious. Priority debts should be dealt with and paid before your non-priority spends.
- Ask for advice
Priority spends include:
- Council tax
- TV Licence payments
- Fuel debts
- Child support and maintenance payments
- Court Orders
- Mortgage repayments and loans secured on your home
If you fail to pay a priority spend:
- you could lose your home through mortgage or rent arrears
- your gas or electricity supply could be cut off or you may have to accept installation of a pre-payment meter – which could have a higher charge.
- you could lose belongings such as furniture.
- additional charges may be added onto your debt, such as court fees or late payment charges, which could significantly increase the amount you owe.
…and, If you don’t pay your Council Tax or Magistrates Court fines
- You could go to prison.
If you need help and advice with budgeting and managing your priority spends then we are here to help. Contact Cash Wise here.