Credit is turning into debt for growing numbers of people; the money advice project has over the past six months advised and assisted clients with housing and consumer problems totalling half a million pounds.
The project provides expert help and advice to clients with debt problems, however large or small. The project helps clients whether it’s a problem with one large telephone bill, money owed on a credit card or a more serious debt where the client risks losing their home or being made bankrupt.
Debt can seem overwhelming and very frightening, especially when it seems that creditors are hounding you relentlessly and you can see no way of paying. In the face of the worrying increase in fee charging debt management companies, Hillingdon & Citizen’s Advice helps clients to negotiate with their Creditors and draw up realistic payment proposals. The free money advice service includes looking at the causes of the debt problem as well as providing benefit advice and representation and letter writing where necessary. If you are in debt or know someone who is please see the CAB’s key tips for dealing with debt at the end of this page.
The percentage of clients with debt problems is increasing, as is the length of time people are in debt.
The Money Advice Project, which is funded by the Association of London Government, is committed to developing closer working relationships with key council departments and other agencies to develop innovative preventative type projects to reduce the burden and effects of debt on local residents.
CAB’s key tips for dealing with debt:
- Don’t panic – but don’t ignore the problem either – it won’t go away
- Don’t be tempted to take out more credit to pay off your debts – you may end up with a worse debt problem if you do
- Keep in touch with your creditors – don’t stop payments without explaining why
- Work out a budget which covers all your income and essential outgoings
- Make payment arrangements with your most important creditors first – these are the ones who could make you homeless, cut off your fuel supply or even put you in prison if you don’t pay – then negotiate with your other creditors
- Get free, confidential, impartial and independent advice from your local CAB
See also:-
www.nationaldebtline.co.uk - an online resource for clients.
Also www.debtline-online.co.uk. Please note you have to live in Norfolk to contact the number provided, but you are free to use the on-lines resources.