Money advice
Welcome to the home of Money Advice in Waltham Forest! The following page gives some general advice. You may also be able to get advice on specific problems from the organisations on the Benefits Advice Information" page.
If you are worried about keeping up with your mortgage repayments, visit the Mortgage Problems page for advice and information.
Dealing with debt
Some useful things to remember about coping with debt:
Feeling guilty
Most people experience feelings of guilt when they find they can't meet all their commitments. This is normal. The thing to remember is that most people fall into debt for reasons that are out of their control like unemployment, divorce, loss of overtime and a hundred other reasons. You are not a criminal and shouldn't allow anyone else to tell you that you are.
Don't ignore letters
It's best to talk to creditors before things get out of control. If you don't feel able or if they aren't willing to help then you can contact someone like us to help you. It's also much easier to deal with a situation before debt collectors or lawyers become involved.
Which is most important?
The most important debts that should be given priority aren't necessarily the biggest debts.
For example: you might owe £5,000 to a credit card company and £500 in rent arrears but the rent must come first, because arrears may lead to eviction but the credit card will not.
You're not going to jail!
Many people worry about what will happen if they get taken to court for debt. Friends and family will not find out unless you tell them. If you are taken to court you cannot be sent to jail for rent or mortgage arrears or any kind of credit debts. Court action, especially when it's for rent or mortgage arrears should not be ignored but judges will always give you a chance to pay off arrears gradually over a reasonable period of time.
You won't lose your home!
It's very nearly always possible to make some kind of arrangement with your landlord or mortgage lender to pay off arrears gradually to prevent you from losing your home. In the very rare cases where this isn't possible, we can advise you on what you can do.
The most important things to remember are:
- You are not alone
- You can get help
- Don't give up!
