Money worries? Strong Communities, Excellent Services, Decent Homes

Money worries? Strong Communities, Excellent Services, Decent Homes

Do you have money worries? Many people are in debt these days, for all sorts of reasons. Changes in your life such as a new baby, relationship breakdown, or a change or loss of job can all trigger money problems. It is nothing to be ashamed of, but it does need to be dealt with. If you begin to get into trouble paying your bills you need to: prioritise your debt work out what you can afford to pay gradually clear what you owe. This leaflet can help you do this. Where do I start? When dealing with debt it is easy to become overwhelmed. There are five simple steps you can follow to make things easier. 1. Don t ignore the debt It won t go away. Work out how much you owe and to who. Speak to the people you owe money to (your creditors). If they know you are having difficulty paying then they should be willing for you to repay the debt in stages that you can afford. We have trained advisors who can help with your money worries. Please get in touch, we re here to help. 2. Prioritise your debt Make a list of all your debts and put them in order of importance. You should try to pay the most important debts first. If you can t pay your rent you may lose your home so this should be your first priority. Other priority debts are your gas and electricity, council tax, TV licence, child support payments, court fines, tax and telephone bills. If you don t pay these it may lead to the service being cut off, your possessions being taken or you being fined or sent to prison. Other debts such as credit cards, store cards and loans should be treated as a lower priority. 3. Make a budget Work out what you need to live on. Then you will know how much you can afford when making offers to repay your debts. Budgeting will help you work out where your money is going and how to best manage your finances. It might help you find ways you can save money. You can use the tips below to help you do this or ask your housing officer, or one of the agencies at the end of this leaflet for help. Work out your income Write down all your income for the week or month and add it up. This is the total amount of money you have to spend. It should include: Wages Working Tax Credit Child Benefit and Child Tax Credit Income Support or Job Seekers Allowance Other state benefits Pension Child support Any other income Work out your outgoings Write down all your essential outgoings for the week or month and add them up. This is the total amount of money you have to pay out. It should include: Rent (including charges) Council tax Water rates Gas/electricity/other fuel Home insurance TV rental/licence Housekeeping (including food) Budgeting tips Decide to budget either weekly or monthly Write down the pay you take home after tax Don t include overtime unless it s regular Include any charges eg, heating and hot water that go with your rent Don t include your debt repayments in your outgoings For quarterly bills (eg, fuel) add the last four bills together and divide by 12 (monthly) or 52 (weekly)

Make more of your money Travel Clothing/laundry Get advice from a debt advice agency such as National Debtline on 0800 808 4000. Loans sharks and doorstep lenders Check whether you are entitled to extra benefits Spread out payments on your household bills Contact your fuel supplier for an energy efficiency check to cut fuel bills Check if you can swap to cheaper insurance or fuel suppliers Look for discounts, special offers or other ways to cut your household spending Court fines/child support School/work meals Telephone/mobile Any other outgoings Take away your outgoings from your income This is how much money you have left to pay your debts. What if your outgoings are more than your income? If you re on a low income, check if you qualify for extra benefits, such as housing benefit, council tax benefit or tax credits. H&F Homes can provide advice on claiming benefits you are entitled to, just ask at our area housing offices. You don t have to be out of work to claim benefits and you could qualify for more than one. Even if you already receive housing benefit, if it doesn t cover your rent you may be able to get some extra money - called discretionary housing payment. Paying your rent arrears If you cannot afford to pay your rent contact your housing officer immediately. They will help you come to an agreement to clear any debt in regular payments. Many advice agencies will have letter templates you can use to write to your creditors. Get in touch with each of your creditors and try to reach an agreement about paying off the arrears. Don t agree to pay more than you can afford. When making an offer of repayment, don t worry if you can t afford much, it s better to pay a small amount regularly than nothing at all. You can then look at repaying your other credit debts such as credit card debts, personal loans and store cards. If you have money left, divide it up by the number of remaining creditors. You should now have a fair offer for each creditor. 5. Remember you re not alone The most important thing to do when you are having trouble paying your rent or other bills, is to talk to us. Every housing office has a team of staff who want to work with you so you can pay off your arrears and get your finances back on track. Loan sharks are unlicensed money lenders. They operate outside the law and offer very bad terms. You will have to pay a very high interest rate and you will get harassed if you get behind with your payments. If you have already borrowed money from an unlicensed money lender you are under no legal obligation to repay the debt and you should contact the illegal money lending team on 020 7364 6886 or email sharkbait@lotsa.org.uk for help. 4. Make a repayment plan Now you know how much money you have left over at the end of the week or month you know how much you can afford to pay towards your debts. Start with paying priority debts. Work out how much you can afford to pay to each person or organisation you owe money to. As well as your housing officer, there are a number of agencies who can offer advice, help you with benefits and work out how much you can afford. You can find a list of agencies at the end of this leaflet. It s very important to get help off specialist agencies and you shouldn t be expected to pay for any debt advice they give you.

My budget Use this page to help plan your budget Income Outgoings Who to contact Local housing offices All housing offices are open Monday to Friday between 9.00am to 5.00pm Hammersmith North By phone: 020 8753 4400 By email: hammersmithnorth@hfhomes.org.uk In person: Hammersmith North housing office By fax: 020 8753 4318 By post: New Zealand Way, White City Estate, Shepherds Bush W12 7DE South Hammersmith By phone: 020 8753 4427 By email: southhammersmith@hfhomes.org.uk In person: South Hammersmith housing office By post: 3rd Floor, 145 King Street, Hammersmith W6 9XY Fulham North By phone: 020 7385 3355 By email: fulhamnorth@hfhomes.org.uk In person: Fulham North housing office By fax: 020 8753 5639 By post: Clem Atlee Estate, Lillie Road, Fulham SW6 7RX South Fulham By phone: 020 7386 6000 By email: southfulham@hfhomes.org.uk In person: South Fulham housing office By fax: 020 8753 4607 By post: Fulham Town Hall, Fulham Broadway, Fulham SW6 1ER Total income minus total outgoings = money left over for paying debts Local advice agencies LBHF Housing Benefits Service The benefits service is open to callers Monday to Friday, 9.00am to 5.00pm. By phone: 0845 803 1020 By email: benefits@lbhf.gov.uk In person: Housing benefits service By post: Hammersmith Town Hall, King Street W6 9JU

Hammersmith & Fulham Citizens Advice Bureau Open Monday, Thursday and Friday 10.30am to 1.00pm; Monday also 5.00 to 6.00pm; Tuesday 2.30 to 5.00pm. Hammersmith & Fulham Citizens Advice Bureau is an independent charity providing advice and assistance to people who live or work in Hammersmith & Fulham. All advice is free, confidential, impartial and independent. By phone: 0845 458 2515 By email: enquiries@fulhamcab.org.uk In person: Citizens Advice Bureau (nearest tube West Kensington) By post: 1 Mund Street, W14 9LY Hammersmith & Fulham Community Law Centre Open for telephone advice Monday to Friday 10.00am to 1.00pm, and also Tuesday 2.00 to 5.00pm. Drop in on Tuesday 5.00 to 7.00pm By phone: 020 8741 4021 By email: hflaw@hflaw.org.uk In person: Community Law Centre By post: 142 /144 King Street, Hammersmith W6 8QU Advice & Employment Shepherds Bush Open 9.00am to 5.00pm Monday to Friday. Closed Wednesday. Free, independent legal advice on debt and welfare rights. Also provide advice and support for residents seeking help with accessing employment or who require support to remain in work. By phone: 020 8753 5910 By email: sbac.advice@lbhf.gov.uk In person: Advice & Employment By post: Shepherds Bush 338 Uxbridge Road W12 7LL H&F Credit Union Open 10.00am to 4.00pm Monday to Friday. Closed Tuesday. An ethical place to save and affordable loans for those who live and work in Hammersmith & Fulham. By phone: 020 7471 2620 By email: info@hfcu.co.uk By web: www.hfcu.co.uk In person: H&F Credit Union By post: 274 North End Road, Fulham, London SW6 1NJ Age Concern Hammersmith & Fulham Age Concern is a federation of over 400 independent charities working with older people (50+) across the country. They can advise on the range of benefits and entitlements for older people and help you claim benefits you may not realise you are entitled to. By phone: 020 7386 9085 By email: dawn@achf.org.uk By post: Age Concern, 105 Greyhound Road, London W6 8NJ National advice agencies National Debtline Open 9.00am to 9.00pm Monday to Friday. 9.30am to 1.00pm Saturdays The National Debtline is a national telephone helpline for people with debt problems. Their service is free, confidential and independent. They will discuss your debt problems with you and highlight the options available. The specialist advice they give is backed up with written self help materials which are sent out for free. By phone: Freephone 0800 808 4000 By web: www.nationaldebtline.co.uk Energy Saving Trust The Energy Saving Trust can give you advice on how to save energy. By phone: Freephone 0800 512 012 By web: www.energysavingtrust.org.uk Consumer Credit Counselling Service (CCCS) Open Monday to Friday 8.00am to 8.00pm The CCCS has a helpline providing free, independent and impartial advice to people who have debt problems. a registered charity offering free, confidential advice and support to anyone who is worried about debt. Free counselling and debt advice can help you get back in control of your money and on with your life. By phone: 0800 138 1111 By web: www.cccs.co.uk

Payplan Open Monday to Friday 8.00am to 9.00pm, Saturday 9.00am to 3.00pm. Payplan provides free advice on debt and budgeting, including free debt management plans and IVAs (Individual Voluntary Arrangements) without upfront fees. By phone: 0800 716 239 By web: www.payplan.com The Illegal Money Lending Team Loan sharks cause misery to communities and pick on some of our most vulnerable and desperate residents. If they are operating in your area text shark bait and your message to 60003 or email sharkbait@lotsa.org.uk. By phone: 020 7364 6886 By email: sharkbait@lotsa.org.uk Money advice web links www.nowletstalkmoney.com Government information campaign. www.ace.org.uk/ageconcern/factsheets.asp Useful fact sheets on various issues specific to older people including information on pension credits. www.homeheathelpline.org.uk Home Heat Helpline offers a free, central phone number offering practical energy advice for people concerned about paying their energy bills. Call 0800 33 66 99. www.direct.gov.uk Offers a beginners guides to benefits as well as a benefits adviser, online questionnaire, money management advice and other resources on a wide range of topics. www.moneymadeclear.fsa.gov.uk Cuts out the jargon and gives you just the facts about financial products and services, helping you to make an informed decision. Call 0845 606 1234. www.moneysavingexpert.com Offers a free tool and guides to help you manage your money. www.entitledto.co.uk Online benefit calculator. www.whatwouldyoudoforapound.com and www.doughuk.com Websites for young people, providing information on debt and money advice. www.adviceguide.org.uk Website for the Citizens Advice Bureau providing a wide range of information including debt and advice. www.debt-on-our-doorstep.com Information about the campaign to tackle the problems caused by doorstep lenders. www.helptheaged.org.uk Provides information about the specific issues that older people can face in relation to money/debt management. There is also an information line for older people, relatives /carers and professionals. Call 0800 00 99 66 between 8.00am and 7.00pm.

This leaflet is about dealing with money worries. Este folleto es acerca del manejo de problemas de dinero. Si Ud. desea que se traduzca este folleto, le rogamos se contacte con CITAS al 0845 521 0405.. ا ا ا ا ا ا : ا CITAS ا ا ا ا. 'Warsidahani waxa uu ku saabsan yahay walwalka lacagta. Hadii aad rabto in laguu soo turjubaano warsidahan fadlan kala soo xiriir CITAS telafoonkan: 0845 521 0405.' Somalian Kjo fletushke eshte se si te perballohen Problemet me parate. Nese e doni kete fletushke te perkthyer ju lutem kontactoni CITAS ne numrin e telefonit 0845 521 0405 Niniejsza ulotka dotyczy radzenia sobie w sytuacji kryzysu finansowego. Jeśli Ŝyczą sobie Państwo przetłumaczenia niniejszej ulotki, prosimy o kontakt z CITAS pod numerem 0845 521 0405. "ا ا ا ا. ا ا ا ا ". 020 8748 4181 CITAS) Este panfleto explica como lidar com problemas financeiros. Se quizer este panfleto traduzido, por favor contacte-nos, CITAS, no número seguinte 0845 521 0405. www.hfhomes.org.uk Translated by CITAS Spanish Published by H&F Homes. May 2009. Produced by Hammerprint. Tel: 020 8753 2235 File: Lf.HFH Money Worries A5