This factsheet explains how a legal advisor will advise you on managing a single debt. The 7 steps outlined here are approximate but do cover the issues that the legal advisor will explore. These are:
Step 1
Obtain the facts about the debt and how it came about.

Step 2
Obtain details of the your income and expenditure and assets to assess your ability to repay the debt.

Step 3
Decide whether you really are liable for the debt.

Step 4
Discuss the possibility of increasing your income.

Step 5
Assess the availability of legal remedies.

Step 6
Attempt to negotiate settlement terms or deferment of the debt using the threat of legal remedies as a bargaining factor if necessary.

Step 7
If all attempts at negotiation fail you will have no alternative but to agree to the recovery terms offered by your creditor and you will have to accept legal recovery methods. Your advisor will explore the available emergency legal remedies to avoid recovery.