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Local News
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Monday, 08 February 2010 17:04 |
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Rotherham Citizens Advice Bureau (CAB) will be running roadshows this month to advise homeowners who are worried about having their house repossessed as a result of the recession.
The CAB will be in the town centre in February, joined by Shelter, RMBC money advice and the housing options team to let people know about the various Government schemes which exist to help homeowners keep up with their mortgage payments and avoid having their house repossessed.
These include the Homeowners Mortgage Support Scheme, Support for Mortgage Interest and the Mortgage Rescue Scheme.
Rotherham is one of 56 r epossession hotspots identified by the Government and the local C AB has launched a campaign to raise awareness of the help and support that is available to homeowners.
This month the C AB on Wellgate will be running a series of events where families can get free face-toface and impartial advice and information on managing and prioritising debt, staying on top of their bills and reducing the risk of losing their homes.
Events scheduled to take place over the next few weeks include:
• Stalls and displays in the town centre on February 9 and February 23
• Poster campaigns around the area • Leaflets and fliers giving advice on debt management, repossession and where to go for help
• CAB open every Friday in February “Many people face money worries immediately after Christmas and don’t know where to turn for help,” said Annette Cassam, Manager of the Rotherham CAB. “Anyone who is worried or concerned can either make an appointment to see one of our advisers or pop along to one of the many events we have lined up over the next month. “The worst thing you can do is bury your head in the sand!” Top tips
• Don’t panic and don’t ignore the bills.
• Avoid borrowing further to try and pay off existing debt – this is likely to lead to more problems in the long run.
• Sit down and work out how much you owe and how much you need to pay your priority debts, like mortgage, rent, gas and electricity bills and council tax and then work out how much you need for food, travel to work and other everyday expenses.
• Pay your priority debts first every month. Don’t fall into the trap of paying whoever shouts loudest first.
• Then work out how much you can pay to non-priority creditors like credit and store cards.
• Talk to your creditors - don’t just stop payments without explaining why. They can sometimes be more understanding than you’d expect.
• If what you have left doesn’t cover what your nonpriority creditors are asking for each month, speak to them and come to an arrangement about how much you can afford to pay them.
• Only offer to pay off debts at a rate you can keep up – it is easy to be panicked into offering more than you can afford.
• If you need help to do that or they won’t listen, make an appointment to see a money adviser at the CAB.
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