Dealing With Money Problems? What Bills You Should Pay First
Falling behind on your bills is incredibly stressful, especially with bill collectors sending letters and calling several times a day. Those who’ve fallen behind on their finances often find themselves tempted to pay the most aggressive creditors first, leaving themselves unable to pay for basic living expenses. If you’re facing money problems, it’s best to ensure your family is taken care of before trying to pay unsecured consumer debt.
What Bills Should You Pay First?
Your Living Expenses Are the First Priority
No matter how deeply in debt you might be, you should ensure your family has enough to eat and gas to get to work. However, there are a few steps that can reduce your monthly grocery budget and relieve some financial stress. Start by cutting back on prepared food and cooking your own meals, and buy necessities in bulk whenever you can.
Concentrate on Housing Costs
Falling behind on your rent or mortgage payments can complicate other money problems, potentially ending in foreclosure or eviction. No matter how persistent your other debt collectors are, focus on staying current on your housing costs. Otherwise, it may be impossible to keep your head above water.
Ensure Your Utilities Are Paid
If you’re unable to meet all of your financial obligations, focus on those which have a direct impact on your quality of life. Pay your electric, gas, and water bills before the utility company shuts off service, and make arrangements to bring any past due amounts current before worrying about other creditors.
If you’re struggling with money problems, the bankruptcy attorneys at the Law Office of James B. Mallory III will help identify your best debt relief options and guide you back toward fiscal stability. Based in Statesville, NC, they have experience serving borrowers throughout Iredell County, helping clients from all walks of life reclaim their lives from unmanageable debt. Visit their website to learn more about their bankruptcy services, or call (704) 872-1911 to schedule a consultation and discuss your money problems.
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