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Questions & Answers > Debt Management Help > How to manage debts by dividing it into priority and non-priority?

How to manage debts by dividing it into priority and non-priority?

By Derek Brown
Published: Sunday, September 20th, 2009

While managing debts it is very important to differentiate debts into priority and non priority debts. Priority debts are like your house mortgages or car loans and losing both of them could be a massive blow for you.

You should try to pay off first your priority debts first and once you are through shift your focus to non-priority debts.

Some of the priority debts, besides your house and car loans are council tax, business rent, electricity and gas bills, income tax/vat and others. Failure to pay off some of your priority debts can also put you behind bars.

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