What to do if you fall into debt
It can be really easy to let debt spiral out of hand. Before you know it, you no longer have control of the money you owe and you could be at risk of losing your home if you fall behind on your rent payments.
A lot of people bury their head in the sand not knowing who to turn to if they feel they are drowning in debt. But we understand the pressures our customers face, especially those who are struggling with redundancies, benefit cuts and rising costs of food and energy bills.
If you are starting to miss bill payments, don’t ignore the problem. You need to take action quickly to stop the situation getting any worse.
Get Free, Independent Advice
It’s important you are able to speak to an expert about your situation as they can give you the support you need (whatever that may be) to help get you out of debt.
We are partners with Money Advice and Pension Service who provide free, confidential debt and budgeting advice over the telephone. Visit the Money Advice and Pension Service website for more information.
Call StepChange Debt Charity for free on 0800 138 1111. Their debt helpline which is open Mon-Fri 8am-8pm and Sat 8am-4pm (calls are free from landline and mobile).
Worried about debts or have missed payments? There is free, confidential and independent debt advice available. The government sponsored MoneyHelper can direct you to a debt adviser straight away by telephone or you can get support online via the Money Advisor Network.
Worried about debts or have missed payments? There is free, confidential and independent debt advice available. Take a look at Government sponsored Managing your money in uncertain times | MoneyHelper – this is aimed at people who are;
- struggling to keep on top of their bills and payments;
- Have experienced a reduction in income or squeezed budgets;
- Are self-employed; or
- Have been or are worried about being made redundant or losing their job;
Or do you need support in prioritising your bills? Here are some handy tips and support with your bills: Help with bills and payments
Loan fee fraud
The rising cost of living is making 2022 a hard year financially. However, there are scammers out there looking to make it even harder.
Loan fee fraud occurs when people pay an upfront or advance fee for a loan they never receive. It’s an increasingly common scam which is reported to the Financial Conduct Authority, with people losing £280 on average.
The good news is that you can protect yourself with this quick three-step check:
- If you’re asked to pay an upfront fee, it could be a scam.
- If you’re asked to pay quickly, it could be a scam.
- If you’re asked to pay in an unusual way, such as vouchers or money transfer, it could be a scam.
Always check that the provider is authorised by the FCA before you borrow. Visit the FCA’s Loan Fee Fraud page to find out how to check and for more information.
Need support or advice with Welfare Benefit and Pension claims or appeals?
Sometimes, the complexities within the Welfare Benefits and Pension systems can make it difficult to know what you are entitled to claim and how to make an application. We also know that many claims are turned down when they shouldn’t be and asking for a reconsideration or making an appeal can be daunting. This is where our Money Advice Team can help. They are specialists in this field and can assist you with a simple query or take you on a journey through a claim or appeal from start to finish.
They also have access to a range of extra support including affordable warmth advice, specialist debt advice and help finding employment.
Have you done a Benefit check?
If you would like to receive support from our service, please fill in the form below and we will call you back within 5 working days.