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Last updated:
20/11/2017

Can someone else manage my money for me?

Which bills are most important to pay first?

  1. Overview
  2. Understanding your options
  3. Speaking on my behalf
  4. Joint Account Holders
  5. Claiming benefits
  6. Tax credits
  7. What is Continuing Power of Attorney?
  8. Which bills are most important to pay first?
  9. Other Options Available
  10. Next steps

 
There are some bills that have to be paid which are more important than others. If these payments are not made you will find yourself at risk of losing something important. For example, if rent isn’t paid there is a risk of eviction, or if the electricity isn’t paid there is a risk of disconnection. These payments are called ‘priority payments’.

Here are some further examples:

Example of priority debt

What might happen if I don’t pay it?

Mortgage or secured loan arrears

Repossession of property

Rent arrears

Eviction from property

Council tax arrears

The council can sell your items to recover the debt/arrestment of wages or earnings/deductions from benefits

Gas / electricity arrears

Disconnection

Sheriff Court fines

Imprisonment

Child maintenance arrears

Imprisonment or disqualification from driving (if you refuse or neglect to pay)

Hire purchase arrears

Repossession of hire purchase goods

 

Payments to credit cards, unsecured loans, catalogues, overdrafts and store cards are not seen as priority payments.

Payments to credit cards, unsecured loans, catalogues, overdrafts and store cards are not seen as priority payments. Missing payments to these can affect your credit rating, which would make it harder to get credit in the future. However there is no immediate risk of losing something if these debts are not paid.

If someone else is dealing with your money for you, it is important they make sure your priority bills are paid before paying any other debts. If you don’t have enough money to pay your important bills or the minimum payments to your debts you should seek advice from a money adviser.

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Within this subject

  1. Overview
  2. Understanding your options
  3. Speaking on my behalf
  4. Joint Account Holders
  5. Claiming benefits
  6. Tax credits
  7. What is Continuing Power of Attorney?
  8. Which bills are most important to pay first?
  9. Other Options Available
  10. Next steps
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