Debt action plan
How the CCPC Debt action plan can help you
The CCPC Debt action plan helps you take control of your finances by identifying your debts, creating a realistic budget and working with your lenders to agree affordable repayments. This page explains the four steps in the plan, how to prioritise payments and where to get free, confidential support from Money Advice and Budgeting Service (MABS) and the Insolvency Service of Ireland (ISI). Visit backontrack.ie for free, confidential advice and resources.
CCPC 4-step debt action plan
The CCPC 4-step action plan helps you identify your current debt and put in place actions to reduce what you owe in a sustainable and manageable manner.
Step 1 – Make a list of all your current debts
Identify your priority and secondary debts. Priority debts are payments that would lead to serious consequences if you failed to make them. Examples of priority debts are:
- Mortgage or rent
- Utility bills
- Ongoing medical costs
Failing to meet these payments could lead to things like losing your home, eviction, disconnection from utility services or serious illness.
Secondary debts are payments that would lead to less significant consequences if you failed to make them. However, it is important not to ignore these. Examples of secondary debts are:
Prioritise debts with the highest interest rates after essential costs. High-interest debts grow quickly. Paying them off first as quickly as you can means you’ll pay less interest overall, which saves you money.
Step 2 – Work out your budget
- Work out how much you can afford to repay weekly or monthly
- Use the CCPC money makeover and budgeting resources
- Use the MABS Budgeting tool
Check your entitlements
Based on your circumstances, check if you're claiming all entitlements:
- Revenue (e.g. claim back tax, tax credits, exemptions, etc.)
- Department of Employment Affairs and Social Protection (are you claiming all of your rent relief, income supports etc.?)
- Citizens Information (will give you broader advice across all circumstances and not just tax or social welfare related)
Step 3 – Contact your lenders to discuss your options
Contact your lenders as soon as you think you might have trouble making a payment. Don’t wait until you’ve missed a payment – early engagement gives you more options and can help prevent bigger problems.
When contacting your lender, have the following information:
- A list of all your credit products, their balances and interest rates. Your budget – outline how much you can comfortably afford to pay towards your debt
- Discuss options like:
You should also discuss debt resolution options with your lender. Some debt resolution options are:
If your debt relates to a car that is under hire purchase, find out all your options.
If you are dealing with mortgage debt, there is a dedicated process for mortgage arrears, find more information on our mortgage arrears page.
Step 4 – Manage your new repayments
Based on your lenders’ advice, make a new budget to manage your income, new repayments and everyday expenses.
Where can I get help with serious debt problems?
Money Advice and Budgeting Service (MABS)
- The Money Advice and Budgeting Service (MABS) offers free, confidential support
- MABS helps with budgeting and engaging with lenders
- MABS has tips for contacting creditors
- You can telephone the MABS helpline on 0761 07 2000
Other services and supports
- The Insolvency Service of Ireland (ISI) helps resolve personal debt
- Visit www.backontrack.ie for tailored advice and support
- For emotional support, contact the Samaritans
If you are struggling with gambling debt, you are not alone
There are practical steps you can take to regain control of your finances. Start by understanding your gambling habits and consider using tools like the Problem Gambling Severity Index from the Gambling Regulatory Authority of Ireland (GRAI) to assess your risk.
Reduce your exposure to gambling ads, use blocking software and consider self-exclusion or asking your bank to block gambling transactions.
If debts are a concern, take action early – support is available from MABS, the ISI and the Gambling Regulatory Authority of Ireland’s help page. Remember, help is available and you don’t have to face gambling debt on your own.
Organisations that can help
Gambling is addictive, and you can receive treatment from the HSE’s addiction services. You can get in touch with them through your local health office or your GP.
Other organisations that can help include:
- Gamblers Anonymous Ireland
- Extern Problem Gambling
- Women’s Gambling Support Network
- Gambling Awareness Trust
Debt management companies
Debt management companies can help you organise your debts and negotiate with creditors, but it’s important to proceed with caution. In Ireland, debt management firms must be regulated by the Central Bank and are required to follow strict consumer protection rules. Before using a debt management company, always check that they are authorised and ask about all fees and charges up front.
Remember, you can get free, impartial advice from the MABS without any cost. If you decide to use a debt management company, make sure you fully understand the service being offered, the total cost and any impact on your credit record.
Take time to consider your options and never feel pressured to sign up on the spot. Go to the Central Bank of Ireland’s Debt Management Services Consumer Guide to learn more.
