Debt Management and Cost of Living

Citizens Advice

Citizens Advice has lots of information on dealing with debt.

You can also make an appointment to speak with an advisor. The adviser will ask you some questions about your income and needs. They can check if you should be getting any benefits you're not currently claiming and tell you about other local help you could get. The adviser can also give you advice about budgeting and any debts you have..

You can contact them on 0808 278 7852

Business Debtline

Business Debtline has useful information and factsheets on the Cost of Living and debt management on this website for both businesses and individuals.

StepChange is the UK’s leading debt charity that can provide you with experienced advice on dealing with your debt in a manageable way. Answer some simple questions on their website and they’ll help you find the right solution of your situation.

Stepchange website

0800 138 1111 (Monday to Friday 8am to 8pm and Saturday 8am to 4pm)

Get free, confidential and independent advice on dealing with debt problems in the UK.

National debtline website

Telephone: 0808 808 4000 (Monday to Friday, 9am to 8pm, Saturday, 9:30am to 1pm)

PayPlan's online debt solution tool, PlanFinder, can give you a personalised debt solution in as little as 15 minutes. They also offer free live chat and email support for immediate help.

Payplan website

0800 280 2816 (8am-8pm Monday to Friday and 9am-3pm on Saturdays)

Financial Wellness Group provides free advice and solutions for people struggling with money, debt and budgeting.

Financial wellness group

The Money Adviser Network offers free telephone debt advice backed by MoneyHelper. Provide your details for a callback here;

Debt Advice Foundation is a national debt advice and education charity offering free, confidential support and advice to anyone worried about debt.

Debt advice foundation website

0800 622 61 51

Turn2us helps people in financial need gain access to welfare benefits, charitable grants and other financial help – online, by phone and face to face through partner organisations.

Turn 2 Us website

Credit Unions are membership based organisations, much like co-operatives. Members have a say in how their credit union is run and may receive a share of the profits – a dividend.

Credit Unions offer a range of straightforward saving products and fair, manageable loans to members.

Hold fast credit union website

The Centre, Newland Street, Witham, CM8 1AH

01376 516994

info@holdfastcreditunion.co.uk

If you live in England or Wales, you can get temporary protection from your creditors while you get debt advice and make a plan. This scheme is called ‘Breathing Space’

You can get temporary protection for up to 60 days.

You’ll still need to make your debt repayments.

If get it:

• enforcement action cannot be taken against you
• your creditors cannot contact you about debts included in your Breathing Space
• • your creditors cannot add interest or charges to your debt

If you’re getting mental health crisis treatment, your protection from creditors will be longer. It will last for the length of your treatment, plus another 30 days.

Gov.uk website

A Debt Management Plan is an agreement between you and your creditors to pay all of your debts.

Debt management plans are usually used when either:>

• you can only afford to pay creditors a small amount each month
• you have debt problems but will be able to make repayments in a few months

You can arrange a plan with your creditors yourself or through a licensed debt management company for a fee. If you arrange this with a company:

• you make regular payments to the company
• the company shares the money out between your creditors

An administration order is a way to deal with debt if you have a county court or High Court judgment against you and you cannot pay in full.

he debt must be less than £5,000.>

You make 1 payment a month to your local court. The court will divide this money between your creditors.

Creditors listed on the administration order cannot take any further action against you without the court’s permission.

Gov.uk website

An Individual Voluntary Arrangement (IVA) is an agreement with your creditors to pay all or part of your debts. You agree to make regular payments to an insolvency practitioner, who will divide this money between your creditors.

An IVA can give you more control of your assets than bankruptcy.

Gov.uk website

Debt Relief Orders (DROs) are one way to deal with your debts if you owe less than £30,000, do not have much spare income and do not own your home.

If you get one:

• your creditors cannot recover their money without the court’s permission
• you’re usually freed (‘discharged’) from your debts after 12 months

Find more information go to the Gov.uk website

You can apply to make yourself bankrupt if you cannot pay your debts.

Your application will be looked at by someone who works for the Insolvency Service called an ‘adjudicator’. They’ll decide if you should be made bankrupt

Find more information go to the Gov.uk website

If you’re having difficulty paying your energy bills, many utility companies provide help;

British Gas

Npower

Scottish Power

Ovo

E.on

EDF

Bulb

Anglian Water LITE tariff

Anglian Water Assistance Fund

AquaCare Plus Tariff

Social Housing – If you having issues paying your rent, contact your landlord in the earliest instance to explain you are having difficulties. They will usually have Tenancy Sustainment Officers who can provide advice and support. Some may also have welfare funds you can apply for.

Private Landlord - If you rent your home from a private landlord you could explain your situation to them and ask them for a rent holiday. Try and give them as much warning as possible, explain your situation and agree a repayment plan.

Homeowner - You can speak to your mortgage provider and ask for a holiday from paying your mortgage. You could also apply for support to pay the interest on your mortgage on GOV.UK

If you cannot afford to keep your home safe, warm or weatherproof, you may be eligible for a Home Improvement Assistance loan.

A PPC covers all your NHS prescriptions, including NHS dental prescriptions, no matter how many items you need.

There are 2 PPC options to choose from:

• The 3-month PPC costs £30.25 and will save you money if you need more than 3 prescribed items in 3 months.
• The 12-month PPC costs £108.10 and will save you money if you need more than 11 prescribed items in a year.

Preparing a personal budget

Moving saving expert

Step change

Money helper

Help with the cost of living