Discover how you can manage your budget effectively.

Put aside money for savings and expenses so that you can achieve your financial goals.

Set your money goals..

• stay on top of bills
• save for emergencies
• pay for your children’s education
• save for a down payment on a property

Track you current spending patterns

Having a clear picture of your regular expenses and spending habits will help you build an effective budget. Start by tracking your current spending and review your spending habits over a two month period.

Record your income

Record all your income sources including the amount and frequency. This could be from:

• Wages
• Investments
• Rentals
• Alternate income sources – part time activities/jobs

Track your expenses

• Fixed expenses

These include rental payment, mortgage payments, utility bills, household expenses like groceries and food, insurance premiums, school fees etc.

• Variable/unexpected expenses

These include unexpected expenses, like vehicle maintenance, additional fees, medical bills etc. You will not be able to budget for these, but it is important to track them so that you understand how much is being spent on such items.

• Debt expenses

These expenses include loan repayments/ installments; credit card bills etc.

Track your savings and start saving more

The money you have left after expenses and savings is your spending money. This money can be put away to achieve some of your goals and ‘wants’. Set up a spending limit so that you can maximise savings and reduce debt expenses.

You may conveniently track these items using an Excel sheet, which can provide valuable insights into your spending habits. Alternatively, we encourage you to explore our Budgeting and Money Management Tool available at the following link https://www.sc.com/ae/loans/debt-restructuring/

While all debt carries a cost that must be repaid, not all debt is necessarily bad. If you would like guidance on managing your debt, our team is here to support you. Please feel free to contact us via email at debt.counselling@sc.com . Our dedicated staff will be happy to assist you at the earliest opportunity.

Our Collection Partners

Concentrix Services India Private Limited / Hadaf Al Khaleej Debt Collections LLC (Tahseel) / Derby Debt Collections LLC / Al Tamayez Debt Collections LLC.

Possible Consequences for delayed payments:

Please be aware that if your account falls into arrears, you may be liable for additional fees and charges, including costs related to any legal proceedings that may be initiated.
It is essential to address outstanding payments as early as possible to avoid financial or legal consequences. Failure to manage arrears can result in:

• Negative impact on your credit history and future borrowing ability,
• Initiation of legal proceedings to recover the outstanding debt,
• Accumulation of additional legal fees,
• Possible enforcement actions including asset repossession where applicable.

We strongly encourage you to proactively engage with any financial consultant or contact our respective team using the details provided in reminder notices.
Early engagement allows us to explore possible solutions such as restructuring, settlement, or payment arrangements to help you manage your obligations more effectively.