Are you are having difficulty managing your money and making ends meet? You may wish to contact the following agencies for more in depth financial advice.
For some very basic advice, here are some 'Debt Don'ts'
- DON'T agree to sign your home as security against a loan as you could lose your home if you do not keep up loan repayments.
- DON'T borrow more money to pay off the debts you already have.
- DON'T enter into an agreement to repay a loan or debt which is not affordable for you.
- DON'T ignore your debt(s) - seek assistance from a debt counsellor or financial advisor.
- DON'T feel embarrassed or guilty about seeking assistance with your debts as many people have the same problem.
It is important to seek assistance from the relevant agencies if you are falling into arrears with your rent or your mortgage, as with assistance, you may be able to prevent yourself being evicted at a later date.
A Guide To Debt
You may think that you are the only person who has debts, sometimes you may feel like your debts are out of your control, but is important that you don't ignore them. You must seek help to deal with them.
Please read through the following steps. You may also wish to use the financial assistance link for further advice.
- Work out your income and expenditure, using the attached form (Budget Planner). Also, you may wish to contact your local Citizen's Advice Bureau. By working out your income and expenditure, you will be able to identify what money you have left after all your priority debts such as your rent or mortgage have been paid.
- Contact creditors - you may be able to make an offer of a lower payment, which is more affordable for you.
- If you rent your property, and are having difficulty with your rent, you may be eligible for assistance with Housing Benefit. For further information and an application form, contact the Revenue Section. You may wish to use a Housing Benefit calculator to work out how much financial assistance the Council is able to offer. Check this out on your local council's website.
- If you do not keep up with your rent or mortgage payments, it may lead to legal action being brought against you by your landlord or mortgage lender.
Download our Budget Planner HERE.
For further help and advice, please use the following link:
Debt Solution Centre
The National Debtline
