If you have debts, it’s important to tackle them as soon as you can, or they risk getting out of control. Here are some top tips to help you pay down your debts and get your financial life back on track.

1 Look for 0% deals

If you have debt on a credit card, it’s worth looking around for alternative cards that offer you a zero percent deal on balance transfers. The best cards will currently mean you pay no interest for up to 28 months (that’s over two years), allowing you time to pay back the debt without interest building up in the meantime.

2 Reject that rise

Did you know that if your credit card company sends you a letter saying that it’s going to increase the interest rate on your card, you don’t have to accept it? Which.co.uk explains that you have 60 days to reject any increase in rate. If you do this, it means you won’t be able to spend on the card any more, but you can continue to pay back any existing debt at the old rate.

3 Say no to payday loans

Payday loans are one of the most expensive forms of credit, with very high interest rates. They’re best avoided other than as a short term solution, and even then only as a very last resort. If you have loans that you’re struggling to pay back, you may want to consider an Individual Voluntary Agreement from a company like Carrington Dean (https://www.carringtondean.com/individual-voluntary-arrangement-iva/).

4 Find a credit union

Local credit unions have been around for a long time and can provide a low cost way of borrowing, if you only need small amounts. By law, the interest charged by a credit union can be no more than two percent a month and there are no setup or early redemption charges.

5 Boost your credit score

Your credit score influences how easy it is to get loans, credit cards and mortgages, so it’s important to understand it. You can check your score for a small fee, or even for free on some websites. If there are any mistakes or gaps in your credit record, it can affect your ability to get a loan as well as the interest rate you’ll be asked to pay.