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It’s hard to consider practical issues after the demise of a loved one. It can be more overwhelming when you have to manage the debt at the same time.

At Arrange My Funeral, we understand how difficult it can be for people to lose a companion. We offer advice and assistance to clients for coping with debt after your partner dies.

  • Communicate With the Companies You Have to Pay

Your initial step should be to communicate with the organisations, or any other person you owe cash to. Tell them your circumstances and how much you will be able to pay them and in how much time.

  • Options for the Payment of Debt

There are various options for debt repayment, such as:

  • Informal Agreement – In this option, you can make an agreement with your creditors to make payment over a period of time.
  • Debt Management Plan – It defines the amount you will pay and agree on a timetable for the instalments.
  • Transferring all the debts into a single loan – This is known as debt consolidation
  • Rent or Mortgage Making You Worried?

It can be quite worrying and stressful when you are trying to keep up with your home loan or rent payments.  You need to make a solid plan on how to save money and identify the sources from where you can get more money. Make a budget and follow it properly. These steps will help you significantly in handling your rent or mortgage.

  • What If you’re Unable to Pay All Your Bills and Debts?

In case you find it quite difficult and you’re unable to pay all the bills and debts at once, then make a list and prioritise what you pay for. You can start by differentiating between Priority debts and Non-priority debts.