However, I’ve been having a read of the Citizens’ Advice Bureau advice for getting through the credit crunch.  And it’s good.

So, here it is, then.

A Borrower’s Survival Guide to the Credit Crunch

1.  Get Talking, don’t sit and worry about your finances – talk to somebody about it!  You should be talking to:

• your lender
• your partner
• an independent debt advisor

2.  Get Advice, contact:

• Citizens Advice
• Shelter
• National Debtline
• Consumer Credit Counselling Service

3.  Plan. If you are coming to the end of a fixed-rate mortgage in the near future start planning ahead for higher repayments and researching the best deals in the market now.

4.  Don’t Ignore the Situation because it won’t go away unless you take action!

5.  Get Your Deb Priorities Right. Your mortgage is one of your priority debts – don’t pay it and you could lose the roof over your head.

6.  Pay What You Can Afford Each Month; f you can’t afford your full mortgage repayments, you should talk to your lender and still pay what you can afford.

7.  Open Those Brown Envelopes, and, if you are a tenant, open all mail that is addressed ‘to the occupiers’; this is how the mortgage lender will contact you if the landlord has a payment problem.

8.  Don’t Panic if You are Facing Repossession Proceedings, because this doesn’t automatically mean you are going to lose your home.  It is vital that you attend the court hearings. The court process acts as a final check to make sure repossession is the last resort. Some courts have advice desks which can provide last minute assistance.

9.  Don’t ‘Hand in the Keys’ and Walk Away, tempting as that might be.  Don’t do this without advice. You could still be responsible for the debt on the property and may be pursued for it years later.