phoneTwitterFacebook
ear
 
When everyone has a home

Housing advice for Northern Ireland

Debt advice

CORONAVIRUS UPDATE

If you don't pay the rent your landlord can evict you. You may be able to keep your home if you act quickly. Get in contact with your landlord and don't just hope that the problem will disappear.

Having a careful look at your financial situation is a good starting point for dealing with your debts.

When you go to a mortgage broker, they'll work out how much you can afford to borrow based on your household earnings. But, it's important to take your overall budget into consideration too.

If you fall behind on your rent, the Housing Executive or housing association can take steps to end your tenancy and evict you. Your landlord will need to get a court order before you'll have to leave the property and this will always be a last resort. Your landlord should try to sort the situation out with you before it starts legal action.

The key aspect of budgeting is being honest and realistic, whether you’re listing your income or your outgoings. A financial statement, containing a listing of your income and expenditure, is a starting point for dealing with debt and making a sustainable repayment proposal.

Use the Savings Calculator from the Money Advice Service to help you plan your service. The calculator can help you figure out how long it will take you to reach your savings goal or how much you'll save over time if you set aside a fixed amount of money every month.

You could lose your home if you don’t pay your rent. Your landlord, whether it’s the Housing Executive or a housing association will have to follow the proper procedure before this happens. Part of this procedure is to work with you to try to sort out the problem.

Lots of people get back on their feet after falling into arrears and manage to keep their home. Falling behind on your mortgage doesn't mean you'll have to hand back your keys or that you'll have to pay everything you owe in a lump sum. Your lender should offer you a range of options to help you get back on track.

Make a list of all your debts. Check the bills or reminders that have been coming through the post and go through your bank statements to see what direct debits are being taken out of your account. Sort these into priority debts and non-priority. If you don’t pay priority debts you could lose your home or lose essential services.

The Housing Executive or housing association can use different methods to get the money that you owe. If you're worried about the rent you owe, get help from a charity that provides money and debt advice.

Pages

Subscribe to RSS - Debt advice Subscribe to Debt advice