Money and Debt Advice
Debt affects many households and comes in many shapes and forms. It can be a very distressing time, but our dedicated Money Advice team can help.
It is important to remember that if you are in this situation you are not alone, as help and advice are available. More importantly, it is not something to be ashamed of. This is the time for you to take control of your debts and not your debts take control of you!
What can we do to help?
We can advise you of what options are available to you to deal with your debts. These can range from supporting you to negotiate affordable repayments with your creditors to applying for a Debt Relief Order or Bankruptcy in order to write your debts off. We will also look at whether any grants would be useful to you, or whether we can get any of your debts written-off through other means.
Our advice to you will be based on your circumstances, so it is important you are completely honest and open with us about your financial situation. Our first step is to gather the information we need. We need to know what your income is and where it’s from, who you owe money to and how much, and what you spend your money on. If you are part of a couple we will need to consider your circumstances together, even if it is only one of you who is liable for the debt.
To gather this information we can send you a pack to complete and return with the evidence we need, or we are happy to visit you to help you put this information together.
Once we have received this and assessed it, a Money Advisor will then arrange to visit you to advise you of your options. As part of this, we may advise you on how to reduce your expenditure. We may also require you to change who you bank with, if you owe money to your current bank.
The Money Advisor will discuss what options are available to you, explaining the pros and cons of each so you can make an informed choice of how to move forward. We will support you with your chosen option as long as it is appropriate for you. In some cases we may need to refer you on to other agencies to finish the process, depending on what option is best for you, but we will support you with this process.
Once your support option is in place, we will normally close our file with you, but you would be welcome to return in the future if you happen to need advice again.
If you would like this advice and support, please call us on 0300 123 5544 and ask to speak to Money Advice, or email us at email@example.com.
Tools and other information:
If you would like to have a go at setting your budgets yourself, you can try our handy budget calculator online – click here to try it out!
We can also advise on accessing Financial Products. As well as high street banks, another option are Credit Unions, which can be useful for:
Low cost loans
Household budgeting – where jam jar accounts are offered.
Click here for more information about Credit Unions.”