Money and debt advice
Many people find themselves getting into debt or requiring money management advice following a change in their circumstances. This can include:
- change of benefit entitlement
- ill health
- birth of a baby.
Do not panic - get advice
Get in touch with a money management or debt adviser.
It’s important to seek advice, as the longer you leave it, the worse it will get. Contact our money management advice officer on 01202 451 266.
Get help to draw up a financial budget, which you can show to creditors who you owe money to.
Get advice to pay off the debts first which could result in you losing your home or the gas and electricity being cut off.
Do not ignore debts
They will not go away, and the debts will increase in value.
Do not borrow more
Borrowing more could result in high interest charges and could make the problem worse. Get advice, as there are debt agencies charging expensive interest rates which you may need to avoid.
Help yourself by getting everything organised:
- spend some time filing all your bills and accounts
- make sure you keep copies of all letters you receive and send relating to any debt.
Check that you’re claiming all benefits that are available to you:
Payment Protection for ill health or redundancy
If you cannot work due to redundancy or ill health, check if any debt is covered by Payment Protection Insurance.
Finally, beware of borrowing money from loan sharks.
A loan shark is someone who lends money as a business without the appropriate licence required by the Office of Fair Trading. They rarely give any paperwork, and if you miss a payment, they often use violence and intimidation to get their money back.
Council house tenants
If you're a council house tenant, we can help advise you with debt issues.
Advice for Bournemouth council house tenants.
Advice for Poole council house tenants.
Report a loan shark
If you know of any illegal money lending, report them in confidence by calling the illegal money lending team on 0300 555 2222.