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When everyone has a home

Housing advice for Northern Ireland

Debt advice

CORONAVIRUS UPDATE

When you’re in debt it’s not always easy to recognise that you have a problem and need to get help. Learning how to budget effectively is a good first step. The good news is that there are lots of charities and government funded agencies that can help you with this, so you should never have to pay for debt advice.

The amount of housing benefit that is paid to single people aged under 35 who rent privately is often restricted. There are some exemptions that apply.

You'll be suprised how much you can save by cutting out some of the small things you might regularly buy. Use this Quick Cash Finder from the Money Advice Service to work out how much you could save each month if you stopped buying a newspaper, cup of coffee or chocolate bar every day.

There are a few key steps you need to take to deal with your debts effectively. A charity that provides debt advice can often help you with this.

If your income isn't stretching far enough and you're worried that you might miss a mortgage payment, don’t wait for your lender to contact you. Let your lender know what’s happening.

It's essential that you get help and advice if you're struggling to pay your mortgage. The sooner you start dealing with your mortgage debts, the more options you'll usually have. If you ignore the problem it becomes harder to manage and you could end up losing your home.

There are practical things that you can if you're having difficulties paying your mortgage. The most important of these is to get advice so you fully understand your options.

Use the Loan Calculator from the Money Advice Service to work out how long it will take you to pay off your loan, based on your current monthly payments. If the loan is secured on your home, you could end up losing the property if you fall behind on your repayments. If you're having money problems, it's best to get some free, independent advice from a charity before you take on any further debt.

When you're in debt, you need to make sure you're making the best possible use of any money coming into your home. Check to see if you're entitled to any benefits or tax credits. You could ask for extra hours at work or rent out a room in your home to increase the amount of money your household has.

If a loan has been secured on your home the lender can try to repossess the property if you don't pay the loan back.

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