Personal Financial Statement

Help with bringing together your financial situation.

If you need help with multiple debts, we will use the Personal Financial Statement and Schedule of Repayments tools to get an overview of your financial situation and, where appropriate, to show creditors what level of repayments you can afford to make in order to stop them from demanding sums that you cannot afford. Creditors  have a code of conduct which they should follow in dealing with someone in financial difficulties. If you think that you are being unfairly pressurized by creditors and feel unable to communicate with your creditors yourself,, seek advice at an early stage, it’s better not to ignore the problem.

Use the financial statement to assess your income and outgoings. This will help identify if you have any income available to allocate to debt repayment. This tool is used to show creditors what level of repayments you can afford to make.

Once you have completed the financial statement and have any disposable income for debt repayment, use the Schedule of Repayments tool to list your debts. This tool identifies how your disposable income should be allocated between creditors.

Where appropriate we can offer a benefit check to ensure that clients with debt problems are claiming any benefits and tax credits they may be entitled to in order to maximize available income.

In cases where clients find it difficult to manage their own finances or need assistance, the Law Centre has a free  Budgeting Service to support vulnerable people or those in financial difficulty who need help in managing their money. Once the client’s financial situation stabilizes, they can regain control of their finances when they feel able to do so.


You will need a speadsheet programme, such as Microsoft Excel, to view and use the above files.

If you do not have Microsoft Excel, do not worry. You can download and use Open Office for free - this includes a spreadsheet programme that will let you work with the above Financial Statement, and Schedule of Repayment spreadsheets.




Supported by:
Scottish Government GAIN GAIN GAIN Citizens Advice Bureau

Castlemilk Law & Money Advice Centre - registered office is 155 Castlemilk Drive, Glasgow G45 9UG. Scottish charity number SC027619.