2 SATURDAY APRIL 30 2011 MONEY MANAGEMENT... Managing your finances in challenging times... K ieron Brennan, CEO shed year for the population, coping aging you to look at your finances A budget is important of the Irish League with pay cuts and redundancies on a honestly it will help you highlight because it will show you: scale not seen in many of our where your money is going and start of Credit Unions, • How much money is coming into lifetimes. you on the first steps of budgeting outlines why There are of course other factors that and managing your money more your household. managing your money is now can contribute to financial difficulties effectively. more important than ever. such as illness, relationship break- We need to change our view of and • How much money is going out. down, an unexpected expense such relationship with money. 2011 is set to be the year that deliv- as a fire, death or robbery. Budgeting is the key. While most of • How much is available to pay to ers Northern Irish families and indi- However, this new financial year us find budgeting boring, it is those you owe money to. viduals some of their toughest need not mean unnecessary stress absolutely essential - a budget is a financial challenges. It doesn’t bear and debt. Whatever your circum- plan of money you expect to receive • How you can best plan your Kieron Brennan, CEO of the repeating that 2010 was a water- stances are, we hope that by encour- and how you expect to spend it. spending in the future. Irish League of Credit Unions Contents MONEY MANAGEMENT Pages 2-3 The Credit Union’s top tips for PLANNING A BUDGET managing Page 4 your money Track Keep track of your spending. Keep your receipts or take note of what you spend your money on. It will help you understand where your money is going and it SMART SHOPPING HABITS might just be an eye Page 6 opener. Budget Estimate your income and expenditure for a set period and budget accordingly. But be realistic and don’t underestimate! Save Get into the habit of saving. Try to save at least five per cent of your regular income for emergencies. Be prudent. Shop around and get the best deals and look at DEALING WITH DEBT cost comparison websites. Page 7 Borrow wisely There are times in our lives when we run short of funds. If you have to take out a loan, be sure you only borrow what you can comfortably afford to repay. You should match the repayment term to the purpose of the loan - don’t make the mistake of paying off Christmas over a number of years. Our best advice is to stay away from credit cards and not to use money lenders. MONEY MANAGEMENT... SATURDAY APRIL 30 2011 3 Get a money makeover 9 tips for generating Do you need a money makeover? Here’s some advice from the Consumer Council extra income for Northern Ireland to make your money go further: • Use a budget plan to work out complained about faulty goods and If your outgoings are more than your in- what money’s coming in, what’s shoddy service. comings and you need some extra going out and where you can make cash, there are lots of ways of getting savings. • Sitting on a small fortune? There is your hands on some! £12 million in forgotten bank ac- • Start the savings habit - even put- counts and building society ac- Funded by the Department of Enterprise Trade ting a little bit aside can make a counts here and £6 million in and Investment, Advice4DebtNI offer free guid- real difference, so start planning for Ulster Savings Certificates. ance on all financial matters, from saving to tomorrow. debt management. • Don’t bury your head in the sand - Here are some of their tips for boosting your • Shop around – you could save If you’re worried about money or income levels: money by shopping around for the struggling to make ends meet, best deals on current and savings don’t keep it to yourself - get help 1 Ask your employer about Childcare Vouch- accounts, mortgages, insurance, early. ers. This scheme enables you to pay for credit and store cards. For more information on the childcare from pre-tax income and could Consumer Council for Northern save you up to £700 per year. • Make your voice heard – we could Ireland visit all have over £219 a year if we www.consumercouncil.org.uk. 2 Check your benefit entitlement. Perhaps you could get some tax credits or help with your rates. An online benefits calculator can be found online at www.nidirect.co.uk/benefit- How healthy are your finances? adviser. 3 Could you get more hours at work or maybe a higher paid job? In March this year Northern Ire- vice per population while Northern Ireland had It’s all about being prepared. Research carried 4 Are you entitled to Child Maintenance? Con- the highest levels of bankruptcy and individual out for the Northern Ireland Consumer Council land was identified as one of the voluntary arrangement (IVA) recommendations. shows that many Northern Ireland consumers tact the Child Maintenance & Enforcement UK's personal debt hotspots in a One of the problems experienced by Northern are not as financially ‘savvy’ as the rest of the Division on 0845 608 0022. Ireland clients of the charity’s advice service UK. report by the Consumer Credit was that they did not have enough income to Their research found that many consumers 5 Sell anything you don’t need at local car Counselling Service (CCCS). cover their living expenses. The charity said here did not hold any insurance to cover loss of boot sales, Ebay, Amazon, Gumtree or the that falling into debt is not necessarily caused income or property and more than a quarter of free ad newspapers. They are also good for The charity said it dealt with more bankruptcy by living beyond one’s means, but can be a re- people said they did not use any information at picking up bargains! cases in Northern Ireland than anywhere else sult of a change in circumstances such as re- all prior to choosing a financial product such as in the UK. The report found many people are dundancy or life changes like having a baby or opening a bank account, taking out a loan or 6 Recycle old mobile phones or sell broken unable to meet their monthly outgoings and falling ill. getting a mortgage. gold jewellery for cash – check the cash are at risk of falling into further debt. While some circumstances are beyond our Their research also showed that one in five back websites for an even bigger income According to CCCS statistics for 2010, London control, there are some measures we can take people felt it was not important at all to keep boost! had the highest levels of demand for debt ad- to manage our money before problems arise. up to date with financial matters. 7 Have you forgotten about a bank account you had from your childhood or perhaps Falling into debt is your parents set up an account for you that you didn’t even know existed? It’s simple to check if you have any and get your money not necessarily back. You don’t even have to know where the account was held. To check for accounts caused by living held with a bank or building society visit www.mylostaccount.org.uk, or contact the Consumer Council on 0800 121 6022 who beyond one’s can assist you. means, but can be a 8 If you think you’ve been mis-sold payment protection insurance it’s worth raising a for- mal complaint. There are many companies result of a change in that offer to do this but charge large up front fees. You can easily reclaim your premiums circumstances such yourself if you are willing to put in some time. Simply write a formal complaint to the company outlining the grounds that you be- as redundancy or lieve constitutes mis-selling. life changes. 9 The Martin Lewis website www.mon- eysavingexpert.co.uk has a guide to reclaim- ing payment protect insurance and template letters which are useful. If the company re- jects your claim then you can approach the Financial Ombudsman Service. For more details on the services offered by Ad- vice4DebtNI, contact 0800 917 4607 or visit www.advice4debtni.com. 4 SATURDAY APRIL 30 2011 PLANNING A BUDGET... Planning your budget Your own budget... A budget is a spending plan that takes into account Add up the total in each your monthly income and expenditure, so that you section (A to E) and this will have a clear idea of where your cash goes. be your total outgoings. Add up the total in the in- If you have a financial goal, like clearing debt or saving up for a deposit come section. on your first home, a budget plan will help you work towards this. The independent consumer rights organisation Which? offers a step-by- TOTAL IN minus step guide to budgeting effectively: TOTAL OUT 1 Get organised and take your time Set aside at least an hour before you begin trying to draw up your budget, = FINAL TOTAL. as doing it in a rush is likely to mean you make mistakes. Also, it makes sense to gather together all the paperwork you’ll need before getting started, including a few months’ worth of bank statements, copies of your recent bills and details of your savings and pension contributions. 2 Add up your income Next, you need to calculate your income. Make a list of your regular earn- ings from employment (after tax and National Insurance has been de- ducted), as well as any income you have from savings, investments, self-employment or the rental of any properties you own. HOME TRAVEL OTHER Rent or mortgage Children’s fares Cigarettes/Alcohol 3 Work out how much you’re spending When calculating your monthly spending, look at your bank statements, Building insurance Adults’ fares Meals/drinks out household bills and credit card bills to ensure you have a realistic idea of Contents insurance Visits to relatives or friends Subscriptions where your cash is going – and avoid guessing wherever possible. Gas Car tax Newspapers/magazines Remember to take into account occasional spending, not just monthly ex- Electricity Car insurance Holidays penditures. Think about the cost of Christmas, birthdays, and your annual Water Petrol Savings holiday. Telephone Car servicing Life insurance TV licence Other Child/spouse maintenance Compare what’s coming in and going out Repairs/renewals TOTAL C University/college fees 4 If you find you have more money coming in than going out, it’s still a good idea to draw up a budget plan. This will allow you to ensure you keep spending sensibly, and could help you find extra opportunities to save for Other TOTAL A FINANCIAL Birthday presents Christmas presents Other expenses the future or pay off debts more quickly. FOOD AND CLOTHES Credit card 1 TOTAL E On the other hand, if you discover you’re spending more than you earn at Food and groceries Credit card 2 the moment, making a budget is a crucial task you shouldn’t put off. If School lunches Store card Money coming in your expenditure regularly exceeds your income, you’ll drift into debt – and Work lunches Bank charges INCOME if you don’t address the situation, you could find yourself in a downward fi- School uniforms Pension contribution Wages/salary/pension nancial spiral which is difficult to escape. Children’s shoes Loan repayments Benefits Clothes/shoes for self Other Maintenance 5 Draw up a budget you can stick to Clothes/shoes for partner TOTAL D Contributions from other people Be as realistic as possible when planning your budget. Small changes Casual clothes for children in the household such as not buying a takeaway coffee every day could make a big differ- Other Student loan ence to your budget over the long-term. Meanwhile, changes to your TOTAL B Other lifestyle that you’ll barely notice - like switching your current account, credit card provider or energy deal - could help to balance your budget without the need for cut-backs. For more budgeting and money saving tips, visit www.which.co.uk/money. Start the savings habit early Saving tips... It’s amazing how much of our spending or Lead by example Encourage goal-setting saving behaviour is learned from our Children are very receptive to what If your child wants an expensive toy, parents. they see and hear. Keep your own encourage them to save towards it. Whether you grew up in a household where it was piggy bank and let the younger chil- Use a graph or diagram (a ther- normal to save every penny or you were encouraged dren see you putting your spare mometer shape is ideal) they can to splash the cash, you may want to change your change in it. Bring older children with colour in as they save towards the habits and set a good example for your own children. you if you’re going to the bank or final amount. To avoid your children picking up bad habits from credit union and explain to them you, or to help them understand if you’re having fi- you’re putting money in your savings Put up a picture nancial difficulties, communication is key. account. Adults will often keep a picture from a Advice4debtNI offers free confidential independent magazine of something they really debt and money advice to individuals in Northern Ire- Open a savings account want - let your kids do the same! land. Most banks have special children’s Hang a picture of the wanted item on savings accounts and provide mem- the wall and this will help your child Its advisors suggest being honest and explaining your bership packs including piggy banks concentrate on saving even harder. situation to your children is the best option: and savings books. Family members There are lots of tools on the internet “Let them know what they can and can’t have. If they can add to the account if your child Don’t overdo it to help you create and manage a are old enough show them your budget so that they needs a bit more encouragement! Children may get so focused on sav- budget. These websites have excel- understand why you are saying no.” ing their money, that they become re- lent resources for drawing up a Advisors at Advice4debtNI recommend setting pocket budget plan: Match savings luctant to spend any of it! Encourage money at a level you can afford as well as educating For every pound your child saves, healthy spending habits by inviting your children to manage their own money well. offer to put in a matching contribu- them to spend a small amount on a www.budgetbrain.moneysavingexpert.com (from the Money Saving Expert website) It’s also suggested that adult children can contribute tion. Either match it pound for pound treat, or even better, surprise them www.financialplan.about.com to the household expenses. or as a percentage. This will encour- with something you’ve bought for www.debtadvicefoundation.org Here are some more tips on teaching children about age them to keep saving. them. www.advice4debtni.com/budgeting. healthy financial habits: 6 SATURDAY APRIL 30 2011 SMART SHOPPING HABITS... Stretch your shopping budget... Ready to go shopping? If you are serious about saving money when stocking up your cupboards, here are some handy hints to help you stay on track. • Before you go shopping, check your you regularly shop online, supermar- • If you spot a great bargain on foods fridge, freezer and cupboards so you kets will store your favourites so you with a limited shelf life, how about know what you already have. can simply repeat your order. buying in bulk and filling up your freezer? • Plan your meals for the week, then • What about growing your own fruit and write a list. vegetables? You'll save a fortune and • Buying in bulk can sometimes save will be happier and healthier - think of you money - buy large packets of • If you’re serious about sticking to a all that time spent out in the fresh air! items like washing powder you use budget, take cash only and leave the fairly often. debit and credit cards at home. • Check press advertisements for up- coming special offers and sales. Keep • Check the 'Buy One Get one Free' of- • Although supermarket shopping is coupons and vouchers for extra sav- fers carefully when shopping. There's a convenient, it's not always the cheap- ings. And don't just throw the flyers fine line between getting a bargain est. Check our your local butcher and from supermarkets straight in the bin - and buying too much of something greengrocer to see what bargains you you never know what bargains you you don't actually need. can pick up. might miss! • Don't go shopping for food when you're • Consider shopping online and having • Don't automatically go for items at the tired, hungry or stressed. You'll end up your groceries delivered. You're less end of an aisle in the supermarket or laden down with overpriced items you likely to buy things you don't need if good at eye level - these are often don't really need and may well have you don't see them on a shelf! When more expensive. abandoned your shopping list. Saving money with the best insurance deals Shop smart Renewing your car insurance? What about home insurance and illness cover? There are lots of with vouchers questions when it comes to insurance and thankfully the Money Advice Service is here to help. Leading online codes and The government-backed service offers cantly over the last year and you may be bly be covered by your contents or motor money saving vouchers site free, unbiased advice to help everyone surprised by your renewal quotes. How- insurance if something goes wrong, but DiscountVouchers.co.uk is make the most of their money. ever, don’t accept your renewal quote check these policies to see what is and offering some new IT and Here are their tips on what to think without first shopping around. You can isn’t covered. tech bargains. about when renewing and also how to use price comparison websites, but try to If you are visiting Switzerland or a coun- reduce the cost of insurance rather than use more than one. try within the European Economic Area The latest raft of offers include leaving yourself at risk. If you get a better offer go back and ask then you should get an EHIC (European your insurer if they can match or beat it. both off and online retailers Health Insurance Card) before you travel. such as Comet, Amazon and Buildings insurance Also, review your current level of cover to This entitles you to free or reduced-cost Currys. Buildings insurance is usually compul- see if it’s still right for you. For example, sory if you have a mortgage, as your if your car has gone down in value over treatment in these areas, but does not The well-known and popular re- lender will want to make sure that their the years, think about whether it is still cover the cost of things such as moun- tailer Comet now has some ex- asset is protected. Rebuilding a home worth buying comprehensive insurance tain rescue, repatriation to the UK or lost cellent savings to be had on the could stretch into the hundreds of thou- cover. Is the car worth as much as the or stolen property, so it’s not a replace- DiscountVouchers.co.uk site. sands, so even if you own your house premiums will cost? ment for travel insurance. In other coun- The latest Comet discount outright you should think very seriously tries, healthcare can be very expensive, codes can be used on orders before cancelling this type of cover. Life insurance so think about whether you would you be over £299 online in the 'Buy You only need this if you have someone able to cover the cost of medical treat- Now, Pay Later in Store' opportu- Contents insurance who relies on you financially (which may ment as well as the costs of bringing you Travel insurance nity. This makes it perfect for Spend time calculating the value of your also include loan and/or mortgage home to the UK, which could run into can pay for lost those looking to buy new home contents. There are plenty of online cal- providers). If you have dependants, think culators around to help you. Don’t be about how they would manage financially thousands. luggage and appliances or a home PC. Cur- rys is one of the most popular tempted to under-insure your contents. If if you died. The older you are when you Other insurance other valuables, retailers in the UK for new tech- you insure your contents for £20,000 when they are worth £40,000, the in- start life insurance the more expensive it will be, so bear this in mind if you’re You may have any number of other types as well as accidents nology and home appliances. The new Currys discount codes surer would only be obliged to pay out planning to cancel or not renew a policy. of insurance in addition to these includ- or emergency can help people save up to 50 ing pet insurance, critical illness cover half of what you claim for. and income protection insurance. It’s medical bills. per cent on certain computer Travel insurance Motor insurance Travel insurance can pay for lost luggage your choice whether to take out or renew Always check equipment in the stock clear- ance, and is only available You can’t get out of this one if you drive, and other valuables, as well as accidents these types of policies but think about what is and isn’t through but make sure you shop around for the or emergency medical bills. Always the risk you are taking and whether you best one for you. We know the cost of check what is and isn’t covered. could manage financially if anything hap- covered. DiscountVouchers.co.uk. The Amazon discount code from Dis- motor insurance has gone up signifi- While travelling in the UK you will proba- pened. countVouchers.co.uk helps peo- ple looking to buy an e-reader, Whatever type of insurance policy you insurer to see what they can do for you. same thing on another policy or as part ance company, put some money away such as the Amazon Kindle, for have, there are a few simple steps you But don’t be persuaded simply by cost; of your current account package. (for example in a bank account or credit as little as £111. can take to save money while still being make sure the insurance still meets your union) instead. This is often good for rel- There are hundreds of money adequately covered, according to the needs. Increase your excess atively inexpensive insurance, such as for saving opportunities at Dis- Money Advice Service. Ask your insurer whether increasing the mobile phones or pets. If you put, say, countVouchers.co.uk at major Check your employer’s benefits excess you would have to pay if some- £5 away every month, you can use this high street retailers and special- Shop around package thing happened would cut your premi- to buy a new phone if yours is lost, stolen ist niche stores such as Boden, Compare like with like to find the best It may include certain types of insurance ums. But make sure you could afford the or damaged, or to pay for treatment for lastminute.com, Travelodge, deal that you can for your circumstances. (often private medical, travel or life insur- excess in the event of making a claim. your pet, and if you don’t use it, the Sainsbury’s, Marks & Spencer, Always make sure you disclose all of the ance) and you may also be able to in- money is still there. The downside of this Tesco and First Choice. relevant information, otherwise the policy clude your partner and family on some of Improve security around your home is that there isn’t much money in there to may not pay out when you need it. the policies, so make sure you check be- Spending a little money on security locks start with, so if you need to ‘claim’ in the fore buying your own. or other features may cut your premiums. first few months, there may not be The latest deals and information Review your level of cover enough in there. can be found at You may be able to get a lower level of Don’t double up Consider self-insuring For free, personalised advice visit www.discountvouchers.co.uk cover for a smaller premium. Talk to your Check that you are not covered for the Instead of paying a premium to an insur- www.moneyadviceservice.org.uk. DEALING WITH DEBT... SATURDAY APRIL 30 2011 7 Debt problems: finding a solution If you find yourself in debt or you’re worried about how a change in circumstances might available for the IVA being wiped out. Be- affect the state of your finances, help is available. If you have a problem with debt, it’s cause of this, they have been unable to important not to panic but don’t ignore it either because unfortunately it won’t go away. pay their IVA payments and now have no choice but to petition for or be made bank- There are many government backed schemes available debts are known as non-priority debts. Priority debts in- rupt by their creditors. Their house was to help offer practical help and support. clude: modified recently for their disabled child One of these is Citizens Advice, a network of charities • Mortgage or rent arrears. If you don’t pay these, you and the grant works would have to be paid that helps people resolve their legal, money and other could lose your home gas and electricity arrears. If you back to the housing executive if they sell or problems by providing information and advice, and by don’t pay these, you can have your supply disconnected lose the house within five years. influencing policy-makers. Here are their tips for dealing • Rates arrears. If you don’t pay these, a court can use It’s an unfortunate fact of life, but any- with debt: bailiffs to take your goods. If, after this, you still have ar- one can fall into debt. Families, individu- * A client had a number of consumer • Sort out how much money you owe rears unpaid, you can be sent to prison als, young or old, working or debts including store cards. The client has • Work out which are the most urgent debts for you to • Court fines such as magistrates’ court fines for traffic unemployed, debt can affect people in mental health problems and is under a pay off offences. If you don’t pay these, the court could use all kinds of circumstances. The following great deal of pressure coping. The CAB as- • Work out if you’ve got any money to pay your debts seizure orders. If, after this, you still have arrears un- case studies from Citizens Advice North- sisted with a financial statement detailing off and, if so, how much paid, you can be sent to prison. ern Ireland show how diverse their the client’s income and essential expendi- • Deal with the most urgent debts as a matter of prior- • Arrears of maintenance payable to an ex-partner or ture and her creditors agreed to write off a clients are. ity children. This includes Child Support you owe to the number of her debts. • Look at your options for dealing with the less urgent Child Maintenance Enforcement Division. If you don’t * A family approached their local Citizens debts and work out how to pay them off pay these, you could be taken to court If, after this, you Advice Bureau (CAB) and had multiple * A client with a number of debts was • Contact your creditors and make arrangements to pay still have arrears unpaid, you can be sent to prison. debt problems and entered into an Individ- struggling to maintain minimum payments back what you owe • Income tax or VAT arrears. You can be sent to prison ual Voluntary agreement (IVA) which is a but was having to survive on a very low in- • Work out your options if you don’t have enough for non-payment of income tax or VAT. formal arrangement to pay debts over a set come. Her creditors would not consider re- money to pay off all your debts. period of time with an agreed weekly pay- ducing repayments until client defaulted on • TV licence or TV licence arrears. It’s a criminal offence to use a television without a licence. You could be fined. ment. They were managing to keep up her existing payments. The client did not Sorting out your most In Northern Ireland, the courts don’t use bailiffs but in their repayments until the mortgage inter- want to end up having to default as this will then be on her credit file. Since visiting one urgent debts some cases can use seizure orders on certain items. est support from the Social Security of CAB’S money advisers, they have sent You may have other debts which you think it is particu- Agency was reduced in October as a result Once you’ve made a list of all your creditors, you need requests for lower repayments which are larly important to pay. For example, if you’re disabled of the budget. This meant that they had to to work out which debts are the most urgent. not necessarily based on minimum pay- and rely on your car to get around, you may need to pay an additional £160 per month towards Some debts are more urgent than others because the ments. make paying for your car a priority debt. their mortgage. As they are in receipt of consequences of not paying them can be more serious You need to think very carefully about which debts you means tested benefits this was impossible than for other debts. These are known as priority debts. If you’re worried about debt and you’d like to meet and the resultant drop in income If you’ve got any money to pay off your debts, you must treat as the most important ones. You must have very some more information and advice, visit from trying to pay the extra mortgage and make sure you can deal with any priority debts first, be- good reasons, as you might have to convince a court or www.adviceguide.org.uk/nireland.htm IVA resulted in their disposable income fore you deal with any less urgent debts such as credit your other creditors why it is reasonable for you to treat card debts, overdrafts and other loans. These type of these debts as more important than others. How to deal with mortgage arrears... Talk to a free and independent money council or a social landlord and stay there If you have a mortgage and you're advice agency as tenant. Get free and independent advice to help worried about missing payments you sort out your problems. Your lender Check whether equity release is a suit- because of a change in circum- may offer a debt advice service, but it may able option stances, then the Money Advice charge you upfront or add the charges to If you’re 55 or over you may be able to Service could help. The Money your mortgage debt. You don't have to use use equity release to raise money from it. Advice Service is a UK wide serv- your home and stay there. This is not the ice which operates as Pay what you can same as a sale-and-rent-back scheme. Advice4DebtNI in Northern Ire- Only agree to pay back what you can af- ford when you discuss your options with If your lender intends to repossess land. It was launched in March to your lender. By continuing to pay back your home provide free, unbiased advice to some money, you may be able to reduce Speak to your lender as soon as possible. help everyone make the most of your arrears. If you've not tried to discuss possible re- their money. The Service is free payment options with them, do so now. It Check what government help is avail- may mean you can avoid going to court. and helps millions of people who able need practical money advice, Find out whether you're eligible for a gov- Things to avoid ernment-backed mortgage assistance whatever their financial circum- scheme (it may allow you to stay in your Taking out a loan to pay your debts – these stances. home). Free independent money advice loans can be very expensive and are often agencies can help you work out whether secured on your home, so putting it at Here’s some of their advice on mortgage Speak to your lender as soon as possi- your mortgage repayments if your income you’d be eligible for any of these schemes. greater risk. Mortgage offers that promise arrears and repossessions: ble has fallen because of redundancy, acci- to help you avoid repossession may also If you can't meet your mortgage repay- They should talk through other possible re- dent or sickness. You may have taken it Consider selling your home on the put you at greater risk. ments, or you're worried you might fall be- payment options with you. For information out when you got your mortgage. open market hind, contact your lender as soon as on some possible options, visit www.mon- If you think your situation won't change in Handing back the keys – you'll still be re- possible. All mortgage lenders regulated by eyadviceservice.org.uk where you can Work out your budget the long term, think about selling your sponsible for the mortgage repayments the Financial Services Authority (FSA), the download a guide on 'problems paying Use a budget plan to help you work out home yourself and renting or moving to a before your home is sold, and possibly the UK's financial services regulator, must have your mortgage'. how much you have coming in and how cheaper property. Use a local estate agent outstanding balance if the money raised by procedures for dealing with you fairly. Make sure you understand the different much is going out. or check online for property prices in your selling your home isn't enough to pay off You can also get free independent advice options so you make the right choice for area. Ask your lender if you can stay in what you owe. from other organisations or you may be you. Check if state benefits can help your property until you sell it and make able to get help with your mortgage from If you're on a low income or out of work sure you have a place to live before you government schemes. Check if you have insurance cover you may be able to claim benefits and get move out. If this isn't possible, as a last re- Selling your home without having a place Mortgage Payment Protection Insurance some help with your mortgage interest sort you can sell your home to a company to live – your local council may not help If you can't pay your mortgage or think (MPPI) or Accident, Sickness and Unem- payments. Use Directgov’s online Benefits and rent it back from them. But check you find a place to live if they think you've you'll have problems : ployment insurance (ASU) can help with adviser or speak to a local advice agency. whether you can sell your home to your made yourself intentionally homeless.
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