Debt Info

Citizens Advice NI

Citizens Advice NI

Citizens Advice Bureau:

Northern Ireland Citizens Advice Bureau

Citizens Advice NI is the largest advice charity in Northern Ireland, working against poverty and meeting the information and advice needs of some 92,000 people per year and dealing with over 320,000 issues across a wide range of  advice categories.

Advice is available to all communities from 31 main offices across Northern Ireland and from over 100 other outlets.

They also represent the public at some 1800 social security appeal tribunals a year.

For a map and contact details of your nearest Citizens Advice NI office click here and a new window will open.

Citizens Advice Milton Keynes

Citizens Advice Milton Keynes

Citizens Advice Bureau:

Milton Keynes Citizens Advice Bureau

Acorn House
361 Midsummer Boulevard
MILTON KEYNES
Buckinghamshire
MK9 3HP

The Citizens Advice Milton Keynes helps people resolve their legal, money and other problems by providing free, independent and confidential advice, and by influencing policymakers.

National Association of Citizens Advice Bureau members give free advice on all subjects.

Click here to get advice on several social issues.

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Getting out of debt

Getting out of debt

Help solve your debt problems by using these 5 Tips

Want to solve debt problems that have been crippling you? Are you usually late paying your credit card bills each month? Need help getting out of debt?

• What’s the size of your pile of bills?
• Is it getting higher and higher with notices of default from nasty creditors?
• Do you worry about losing your home because you can’t pay off your credit card debt?

When you’re drowning in debt it’s not something which can be dealt with lightly. Anyone who has ever been in this situation knows how worrying, degrading, frustrating and completely humiliating it can make you feel.

Something you need to know is that there are things you can do to resolve debt problems and make your financial situation better if you take the following steps.

Learn to Budget

The moment you find yourself in a pinch and falling behind lay out a budget right away. What’s your income? Does it cover your current costs? Make a list of all your expenses at the moment. Eliminate the ones that are not vital. Only keep the ones that you need the more unnecessary expenses you can eliminate the faster your recovery will be. Do you need the super cable TV plan with all the channels or the latest cell phone with all the bells and whistles. You’ll be surprised how much costs you can trim when you lay out a plan and look at reductions.  Eating at home more often can save you a bundle and may help you eat more nutritiously to boot.  Just make sure your budget covers all your necessities like food, clothing, basic utilities and health care.  Eliminate or reduce all the rest.

Talk to your Creditors

Most people deal with creditors by just avoiding them. This is not the way to solve credit problems. This action just delays the inevitable problems down the road. It will lead to much bigger problems in the future. If you fall behind in making payments the best way to deal with it is to let your creditors know and give them the reasons you aren’t able pay and see if they can provide a revised payment arrangement.

It’s quite important to notify your creditors you are still willing to pay your debt. When you face your creditors this assures them and will keep them from passing your debt off to a collection agency.

Dealing with Debt Collectors

Debt collectors will try to get the best deal for ‘their’ client but remember they can’t legally do  anything which isn’t fair when attempting to collect money from you. You have many rights under the law and it may hel to become familiar with your rights and protections under the law.  It will guide you in how to best deal with debt collectors it also gives you a feeling or Empowerment knowing what your rights are.

Credit Counseling

Consider a good credit counseling organisation. There are many institutions and groups which provide credit counseling for anyone facing financial difficulties. They can offer advice and help you come up with a plan for payment arrangements. You can then submit this plan to your creditors. The support and understanding they can provide can also give you a boost to take the actions you need.

Debt Management Plans

If you prefer you can use the services of a professional Debt Management company. They will do everything for you including creating a repayment plan, arrange to collect these from you and distribute the money to your creditors. They will usually arrange for the interest to be frozen while on the DMP too. You will very often find you are repaying your debt faster this way. If you want to know more about a DMP contact us on the form above.

Bankruptcy

Bankruptcy, the “The Final Solution”. Just saying or thinking about this one can bring a shiver down most people’s spines. This should be a last resort to remedying your financial problems. It is the legal method of resolving debt issues with your creditors. However, you want to keep in mind that when you become a bankrupt it will stay on your credit report for many years. You may find it difficult to receive any additional credit for years to come. You most definitely will pay much higher interest rates for any credit you do receive. It can make it difficult to buy a house or even get a job. In fact depending upon your profession it may cause you to lose your job.

In Summary

Be proactive in your approach to solve debt problems and follow a plan of action like those listed above. You will help you situation faster and you’ll be surprised how much better it can make you feel by taking action. One thing is for sure, if you do nothing it will NOT go away!

Getting out of debt is possible so don’t worry yourself sick. Just follow the advice on these pages and it will all get resolved.

Help with Debt

Help with Debt

When looking for any help with debt make sure that the source of the advice is sound and reliable. If you are for instance dealing with a Debt Advice company you can check to see that they are fully authorised and regulated by the relevant UK Government body concerned.

They should be able to give your their Consumer Credit License number, Data Protection license number, and in some cases their Financial Services Authority number.

Where possible try and get a recommendation from someone that has used the company before or at least some testimonials from satisfied clients. Also do a search on the company and check there are no bad reports on any debt forums.

Family Help with Debt

Although help, support and advice from family and friends is vital when experiencing any debt problems sometimes a little more professional, practical, and financial know-how is called for. Without all the emotional consequences that comes when talking to family and loved ones.

Professional Help with Debt

Professional Help with Debt

Unless you are a very confident person we would suggest that you always seek the help of a professional debt management company to work on your behalf with your creditors.

They give help with debt problems every day and know exactly what a creditor is likely to accept and what they won’t. Their services are not usually free but they get paid from some of your initial debt payments and therefore it doesn’t ‘feel’ like you are paying them anything.

This suits most people that need advice on debt as they won’t usually have any spare money to pay fees with.

In summary I would always advise speaking with a professional debt advice company. They will end up reducing your repayments to an amount that you genuinely can afford each month and take away the hassle of dealing with often irate creditors.

Advice on Debt

Advice on Debt

When looking for any advice on debt make sure that the source of the advice is sound and reliable. If you are for instance dealing with a Debt Advice company you can check to see that they are fully authorised and regulated by the relevant UK Government body concerned.

They should be able to give your their Consumer Credit License number, Data Protection license number, and in some cases their Financial Services Authority number.

Where possible try and get a recommendation from someone that has used the company before or at least some testimonials from satisfied clients. Also do a search on the company and check there are no bad reports on any debt forums.

Family Advice on Debt

Although help, support and advice from family and friends is vital when experiencing any debt problems sometimes a little more professional, practical, and financial know-how is called for. Without all the emotional consequences that comes when talking to family and loved ones.

Professional Advice on Debt

Professional Advice on Debt

Unless you are a very confident person we would suggest that you always seek the help of a professional debt management company to work on your behalf with your creditors.

They give advice on debt problems every day and know exactly what a creditor is likely to accept and what they won’t. Their services are not usually free but they get paid from some of your initial debt payments and therefore it doesn’t ‘feel’ like you are paying them anything.

This suits most people that need advice on debt as they won’t usually have any spare money to pay fees with.

In summary I would always advise speaking with a professional debt advice company. They will end up reducing your repayments to an amount that you genuinely can afford each month and take away the hassle of dealing with often irate creditors.

Are you facing debt issues or problems

Are you facing debt issues or problems

It is easy to end up with debt such as credit cards, store cards, overdrafts, and utility bills. Before you know it, your debts are running into thousands of pounds and you are struggling to keep up with the scheduled repayments.

The lenders are starting to call you at home, at work, on your mobile…Maybe even sending round their ‘representatives’.

Unless you can come up with the money regularly the options facing you can be quite worrying and to recover the debts, your creditors may begin legal proceedings against you.

Don’t worry, there is a way out.

There are a couple of debt solutions which will empower you to clear your debt and start all over with a clean slate.

• Individual Voluntary Agreements (IVAs)
• Debt Management Plans (DMPs)

These have become very popular in recent years with debt-burdened families and individuals such as you, who are looking to escape from the problems of potential bankruptcy and stop the harrassment of their angry creditors.

At DebtSurvival.co.uk we offer you personal service providing IVAs and DMPs according to your unique debt situation. Your monthly repayments will be drastically reduced to an amount that you can afford ensuring that you can afford to meet your monthly payments. Even though your creditors do not have to agree to stop interest and charges, they will. In fact most of our cases have been successful in achieving this for our clients.

We offer a FREE consultation and you are under no obligation to continue with our services or enter into a DMP or IVA agreement.

We will make no contact with your creditors until you are happy for us to proceed.

With these options we hope to offer you a second chance to take control of your financial life again. Fill in the contact form and we will arrange for a debt advisor to contact you immediately.

Things to do and things not to do when in debt.

The Do’s and Don’ts of Ditching Debts

If you are really serious about getting yourself financially straight, it is vitally important that you abandon all thoughts for the time being of taking a holiday, getting a better car or replacing your temperamental DVD player. Many people roll out this sort of excuse: “I’ve got huge debts of £30,000  so another £500 won’t matter! And besides, I really need a holiday because I’ve been worrying so much recently!”

But you need to grasp the fact that you could be risking the roof over their heads for the sake of a short-term happiness fix. It’s understandable to want to get away from it all when everything is crowding in. And, if you’re the sort of person who does this kind of thing, we’re not going to beat you around the head with a cricket bat. We’re just trying to make you screech to a sudden stop and think!

If you’re honest with yourself, you’ll probably realise you’re in a bit of a mess right now because the costly fun things took priority instead of the essentials. It’s far more satisfying to pay for something by yourself, instead of borrowing it from someone else at vast expense and then worrying about how to meet the bill.

If you want the occasional treat to keep you going while clearing your debts, pick a small one such as a book or a CD. Don’t forget that, when you were a child, small things gave you an immense amount of pleasure. They still can. You really don’t need the expensive things.

So, if you’ve decided to get your act together and to tackle your debts — then here are a few small tips on the Dos and Don’ts:

Do:

Don’t:

Help with Debt Problems

Help with Debt Problems

If you have debts that are beginning to become unmanageable, or you are struggling to meet your monthly payments, did you know that there are solutions available to reduce your monthly outgoings, even write off a proportion of your debt. Debt problems help is here!

Be it a debt management plan, an IVA, a DRO, SARB or even bankruptcy, we are here to help guide

Help with Debt Problems

you through the process.

Many people are tempted to ‘borrow more’ and usually this will only lead to further trouble. There are always options available depending on your personal situation and we aim to show you these on the following pages.

I hope that using this information you will be able to ‘survive’ your debts and get back to a healthy financial status.

Been contacted by a debt collector

Been contacted by a debt collector?

Here are some of the things you need to know.

Why have you been contacted?

If you miss making payments on money you have borrowed, your account goes into ‘default’ and you will be sent a default notice. If you don’t pay the money you owe, the people you owe money to may pass the details of your debt onto a debt collection business. The debt collection business will then contact you and ask you to pay the money that you owe.

Sometimes the people you owe money to may sell your debt to a debt purchase business. If this happens, you should be told that your debt has been sold and the details of the business it has been sold to. The debt purchase business may contact you and ask you to pay the money that you owe and/or they may pass details of your debt to a debt collection business.
Most debt collectors and debt purchasers should have a consumer credit licence from the Office of Fair Trading (OFT). You can check if a business has a license on the Consumer Credit Register.

What you should do if you owe the money

Before telling the debt collector how much you can pay back and when, look at your income and expenses. Create a budget and see how much you can afford to pay back and how often. Remember, if you need help with your finances there are a number of organisations, listed below, that can help you.
Once you have looked at your finances, talk to your debt collector right away and keep a record of your communications with them. The debt collector will tell the people you owe money to how much you will be paying and when. You can then start paying money to the debt collector and the collector will give the money you pay to the people you owe.

What you should expect from a debt collector

When a debt collector contacts you they should tell you who they are, who they work for, what their role is and why they are contacting you.
The debt collector should:
• use language you understand
• contact you at reasonable times
• only come into your home if you have invited them to
• tell you the time and date that they will visit you
• during a visit, leave your property if you ask them to
• when sending you a letter, include clear information about who they are and why they are contacting you as well as the process that they are legally allowed to take to get the money that you owe
• provide you with information on your debt, such as the amount you owe
• if you ask for it, provide you with more information about your debt, such as what your original agreement was, and if there were any changes made to it later. For more information on how to request information on your credit or hire agreement see the OFT advice guide.
The debt collector should NOT:
• contact you if you have asked them to speak to someone representing you
• visit you at inappropriate places such as your work, unless you have told them they can
• harass you by calling you frequently or making threatening statements or gestures
• send you letters that do not clearly let you know who they are and why they are contacting you
• pressure you into selling property or borrowing money in order to pay your debt
• pressure you into paying in full or in large instalments
• pressure you to increase your payments to more than you agreed to in your repayment plan
• add collection charges to your debt, unless you agreed to this with the people you borrowed the money from (any amount they charge you should be based on actual costs caused by the collection of your debt)
• threaten to give the details of your debt to others unless they are allowed to by law or tell you that they can take legal action when they actually cannot
• make you think that they are bailiffs. Debt collectors do not have the same legal power as bailiffs and cannot force their way into your home or seize your possessions.
If you have a complaint about the debt collector the Financial Ombudsman Service may be able to help. See contact details below.

What if the debt is not yours or you have paid your debt?

If you don’t think the debt is yours, you don’t think you owe the amount being asked for or if you have already paid the debt, tell the debt collector immediately.
You don’t have to give any documentation to the debt collector. They must provide information to you to prove you owe the money.

Need help with your debts?

It is important to remember that you can take steps to avoid being contacted by debt collectors by keeping up with your payments.
If you are having money problems don’t avoid them, speak to the people you owe money to and get debt advice as soon as possible. You can also read the OFT Advice guide, ‘Getting help with your debts’, which explains the various debt advice options available to you.
For more help and advice, you can contact the following not-for-profit organisations for free, confidential and impartial advice, or for details of where to get advice in your area.

Citizens Advice

For advice and information on debt and other topics, visit your local Citizens Advice Bureau (address in the phone book), or go to www.adviceguide.org.uk (England and Wales), www.cas.org.uk (Scotland) or www.citizensadvice.co.uk (Northern Ireland).

National Debtline

If you live in England, Wales or Scotland, phone 0808 808 4000 or visit www.nationaldebtline.co.uk for debt advice and information.

Advice4DebtNI

If you live in Northern Ireland, phone 0800 917 4607 or visit www.advice4debtNI.com

Money Advice Scotland

If you live in Scotland, phone 0141 572 0237 or visit www.moneyadvicescotland.org.uk to find contact details for debt advice in your local council area.

Consumer Credit Counselling Service

For debt advice throughout the UK, phone 0800 138 1111 or visit www.cccs.co.uk

Consumer Direct

For a list of independent advice agencies, and information about credit and hire agreements, phone 08454 04 05 06 or visit www.consumerdirect.gov.uk

Advice UK

Member centres offer debt advice to the public, some providing specialist advice for minority ethnic and refugee communities and people with disabilities. For further information phone 0207 469 5700.

Community Legal Advice

If you qualify for legal aid, phone 0845 345 4 345 for free advice or visit www.communitylegaladvice.org.uk

Financial Ombudsman Service

If you have a complaint that you can’t resolve with your lender, the Financial Ombudsman Service may be able to help, phone 0845 080 1800 or visit www.financial-ombudsman.org.uk
February 2011
OFT1299

OFT Debt Collection Guidance

OFT Debt collection guidance

The Consumer Credit Act 1974 (the Act) requires most businesses that offer goods or services on credit or for hire, or that lend money to consumers, to be licensed by the Office of Fair Trading (OFT).

The OFT has a duty to protect the interests of consumers by ensuring the fitness of those holding or applying for consumer credit licences. The OFT also has a duty to monitor social and commercial developments relating to the provision of credit and related activities.

The OFT issues guidance for specific types of credit business where problems have been identified or where more detailed consideration of particular market circumstances is helpful. The OFT first issued specific guidance covering high risk debt recovery activities in July 2003 to set out the minimum standards of behaviour for all consumer credit licensees involved in this activity.

Alongside taking enforcement and licensing action to deal with breaches of the guidance, key strands of the OFT’s compliance strategy have been to raise awareness of the guidance in order to improve the quality of complaint evidence and facilitate enforcement action, and to work closely with trade associations and licensees to encourage and support compliance.

A key development reinforcing the OFT’s compliance strategy has been the implementation in 2008 of new powers to:

• assess the competence of business to engage or continue to engage in the high risk activity of debt collection
• impose requirements on licensees to change behaviour and improve compliance.

Source OFT

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