Trafford Housing Trust

Dealing with your debts

At THT we understand the effects that debt can have on our customers and their families. This is why we have set up our own free, impartial and confidential debt advice service.

If you are struggling with debt, it is important to seek help sooner rather than later. Please call our Debt Advisors on 0300 777 7777 to arrange an appointment.

There are also other free to access debt advice services available to you such as:

 

National Debtline

National Debtline.pngNational Debtline offers free, confidential and independent help over the phone for people in England, Scotland and Wales.

You can call their helpline and also download publications from their website at www.nationaldebtline.org including standard letter templates, fact sheets, income and expenditure sheets and budgeting tips.

Tel: 0808 808 4000
Monday to Friday 9.00 am to 9.00 pm, Saturday 9.30 am to 1.00 pm

Payplan

PayPlan.pngPayplan provides free advice on debt and budgeting to people living in the UK. They provide advice on budgeting and offer solutions based upon your personal circumstances. They provide and manage FREE Debt Management plans without up front fees and commissions which can be as high as 35p in the £ with other companies offering the same service. you can access their website at www.payplan.com

0800 716 239
Monday to Friday 8.00 am to 9.00 pm, Saturday 9.00 am to 3.00 pm

Citizens Advice Bureau (CAB)

CABLogo.gifYour local CAB is a good place to find free advice. They provide free information and advice on legal, money and other problems. Citizens Advice Trafford operates a telephone and information line. The service is staffed by fully trained advisers.

Tel: 0844 499 4103   Monday to Friday 10.00am-4.00pm

There is also drop in advice sessions. Please phone the number above for more detailed information.

Age UK Trafford

age-uk-logo.jpgDebt Advice is provided by the CAB on an appointment basis on the last Friday of each month. You will need to phone for an appointment 

You can access their website at www.ageuk.org.uk/trafford/

Tel: 0161 746 3940 Monday to Friday 10.00am-1.00pm.

You can also access The Money Advice Service at www.moneyadviceservice.org.uk/en  for help with managing your money or you may wish to use our self-help debt pack (hyperlink) if you are confident in liaising with your creditors yourself.

There are grants you can apply for if you are struggling with certain bills such as:

United Utilities Trust Fund (for help with water debt) www.uutf.org.uk/getting-help/application-form/ 

British Gas Energy Trust (For help with energy debt – not just British Gas customers) bget.app.charisgrants.com/

You can search for grants you may be eligible for or complete a benefits check at www.turn2us.org.uk/

 

A bit about lending…….

If you are struggling to manage, you should seek help and advice. Taking out further credit will, in the long-term only make things worse.

If you have to borrow money and cannot access mainstream lending such as a bank loan (possibly due to a poor credit rating), you should talk to your local Credit Union before resorting to expensive pay day or door step lenders.

Credit Unions are not for profit organisations who are there to serve their community and do not make any profit. They offer savings accounts, current accounts and offer loans much cheaper than pay day or doorstep lenders.

The tables below show the difference between their loans and the more expensive lenders (examples correct as of 01/02/2016).

 

Doorstep Lender

Lender

Amount of loan

Typical APR

Term of loan (weeks)

Weekly repayment

Total repayment

Total interest

Total saving

Doorstep lender

£400

272.2%

52

£14.00

£728

£328

-

Credit Union

£400

42.6%

52

£9.18

£477.40

£77.40

£250.06

 

Pay Day Loan Lender

Lender

Amount of loan

Typical APR

Term of days

Total repayment

Total interest

Total saving

Pay-day loan lender

£400

1509%

31

£499.20

£99.20

-

Credit Union

£400

42.6%

31

£407.39

£7.39

£91.81

DISCLAIMER: Throughout our site you will find links to external websites. Although we make every effort to ensure these links are accurate, up to date and relevant, Trafford Housing Trust cannot take responsibility for pages maintained by external providers.

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