If you need help in managing your finances or reducing your outgoings our Money Advice Service can help you:
· Reduce deductions from Universal Credit or other benefits.
· Complete a budgeting plan.
· Negotiate repayment arrangements for Council Tax and Benefit Overpayments.
· Negotiate repayment arrangements for single debt issues (i.e. Bank Overdrafts, Credit Cards etc.).
· Freeze Interest or request a hold on further action to allow you to seek further advice.
If you require more specialist Debt Advice such as multiple debts, sequestration or Debt Arrangement Scheme you will be signposted to a relevant free, impartial and confidential service. Such as Renfrewshire Council's Advice works, Renfrewshire CAB or Stepchange UK
You will find an example of the assistance we can give below:
Tenant was referred to advice service as they were struggling to budget due to infrequent and variable work. The tenant was given advice to better understand their money and how their income would affect their Universal Credit in order to better budget. At this stage the tenant disclosed difficulties with an old overdraft and Council Tax arrears. The tenant was assisted to complete a budgeting plan which showed they had little disposable income.
The tenant has been assisted to negotiate token repayment arrangements to these debts, this means that he is no longer being bombarded with phone calls and letters which were making them very anxious.
The tenant feels that they have raised their awareness of the financial implications of earnings on Universal Credit, on-going credit agreements and the consequences of not repaying them. The tenant also feels that they increased their confidence in disclosing his debts, preparing a financial statement and preparing a budget and sticking to it.