Budget and debt advice. when you need to take control of your finances. på lättläst engelska

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1 Budget and debt advice when you need to take control of your finances på lättläst engelska

2 Cost-free budget and debt advice in swedish municipalities Did you know that budget and debt advice is available in your municipality? This can give you the help and support you need to take control of your finances. The advice is provided free of charge and is adapted to your needs. A budget and debt adviser can help you with issues such as: setting up a budget gaining control of your debts applying for debt restructuring. Here you can read more about what this entails. 2

3 Budget advice plan your economy and set up a budget Do you need to get a better idea of how you use your money? Or do you find it difficult to make ends meet? In that case, a budget and debt adviser can help you set up a budget. the budget allows you to survey your finances A budget is a plan for your income and outgoings. It allows you to survey your finances, and you can see what needs to be changed in order for your money to go further. Perhaps it would be possible to reduce your outgoings? The adviser helps you design the budget so that it is adapted to your circumstances. Furthermore, budget advice is an important part in preparing for debt advice and debt restructuring. 3

4 Debt advice take control of your debts If you find it difficult to handle your debts, the budget and debt adviser guides you and helps you change your situation. For example, the adviser can help you calculate a reasonable monthly repayment schedule. Contact those you owe money to The adviser can help you contact your creditors, that is to say those you owe money to. The aim of the debt advice is for you and the creditors to find solutions to your payment issues through voluntary measures. Such measures include an agreement regarding new conditions under which to repay your debts, and a repayment plan that is suited to your financial situation. 4

5 Debt restructuring when you cannot repay your debts If you have large debts, you may be entitled to debt restructuring. This means that you do you not need to repay what you owe, either in part or in full. Also those who run a private business may be offered debt restructuring, if the business finances are easy to investigate. This is made clear in the Debt Rescheduling Act. How debt restructuring works Applications for debt restructuring are sent to the Swedish Enforcement Agency, which then decides in the matter. In order to be eligible for debt restructuring, your debts need to be so large so that they cannot be fully repaid for many years. Furthermore, the Enforcement Agency assessment takes your life situation and finances into account. If the Enforcement Agency decides that you are eligible for debt restructuring, you will receive a five-year repayment plan. During this time, you will be living on a subsistence level the portion of your income that stretches to the absolute necessities of your every-day life. The rest is used to repay your debts. After five years, the remaining debts do not need to be repaid. the budget and debt adviser helps you during the restructuring period You can get support from your municipal budget and debt adviser during the whole debt restructuring period. This may include getting help to fill in the application to the Enforcement Agency or to appeal their decision in a District Court. 5

6 Contact the budget and debt advisory service On your municipality s website you will find the address and telephone number to the budget and debt advisory service. You can also call the municipality s switchboard. The contact details are also listed on the Swedish Consumer Agency s website, prepare information about your financial situation It is good if you prepare for the initial contact by gathering information about your financial situation. This will make it easier for the adviser to quickly decide which type of assistance you need. Information that is required includes: your income your housing costs the bills that you normally receive who you owe money to, and how much. 6

7 Do you need more information? On the Consumer Agency s website, konsumentverket.se, you will find more information about budget and debt advice. You can also find more tips on personal finances and you can set up a budget using the budget calculation tool Budgetkalkylen. If you want to know more about debts and debt restructuring, please visit the Swedish Enforcement Agency website, There you can also download the form Application for Debt Reconstruction. 7

8 Konsumentverket 2013 ISBN The municipal budget and debt advisers can see opportunities, alternatives and room for action where you cannot do so yourself. They are bound by professional secrecy. Information that you provide is not passed on to anyone else, unless you want it to. The advice is provided free of charge. You are welcome to contact: Box 48, Karlstad Telephone: Stockholm Telephone: