Sources of Financial Advice
Introduction
I am not a lawyer or financial advisor and I can't endorse any particular third party advice. But you may well find that the websites below can offer help. If you feel that I can help in anyway then please do not hesitate to get in touch. My contact details are at: http://www.mikehancock.co.uk/contact-me
General Advice - Citizens Advice Bureau
The Citizens Advice service helps people resolve their legal, money and other problems by providing free information and advice from over 3,200 locations. Details of Portsmouth Citizens' Advice Bureau is at: http://www.citizensadvice.org.uk/bureau_detail.htm?serialnumber=101026
The main Citizens Advice webpage is: www.citizensadvice.org.uk/index.htm
Their online advice guide is at: www.adviceguide.org.uk
Legal Advice - Community Legal Services
You can get general legal advice from the Community Legal Services website at: www.communitylegaladvice.org.uk
They also run a helpline and have have a booklets on a variety of legal and money issues - with a useful "money and tax" section. It includes a leaflet "Dealing with Debt - your legal rights." This explains the powers that various companies and organisations have to pursue people for debts.
Money Advice - National Debtline
The National debtline helpline that provides free confidential and Independent Advice on how to deal with debt problems. It's website is at: www.nationaldebtline.co.uk
Benefits - Government
You should check that you are getting all the money and help that you are entitled in benefits, tax credits, pension credit (if over 60) and other help. You and your relatives have paid taxes to provide the help that the welfare state provides. You may find that you are entitled to more help than you are getting at the moment even if you are working. The national government "portal" providing links to a great deal of official national Government advice on virtually all Government issues including benefits is at: www.direct.gov.uk
For residents in Portsmouth, Portsmouth City Council administers housing benefit (help with rent) and council tax "benefit" - reductions in the council tax benefit depending on your income. A substantial sum of money goes unclaimed in benefits so you should check whether you are likely to be entitled to any help. Their website is at: www.portsmouth.gov.uk
Details of benefits that Portsmouth City Council administer for residents in Portsmouth - housing benefit and council tax benefit is at: http://www.portsmouth.gov.uk/living/24.html
You can also do a brief check as to whether you are likely to be entitled to more benefits or tax credit at the following website: www.portsmouth.gov.uk/wbc/ (This is on Portsmouth City Council's website).
Or at: http://www.entitledto.co.uk/ (This is run by a company that provides products to advisers to calculate benefits).
These can give rough idea of whether you are not you are likely to be entitled to benefits such as Housing Benefit or Council Tax Benefit and tax credits. It is not 100% accurate - you may be entitled to benefits even if the calculators say you are not or vice versa. In particular you should double check things if you may be entitled to disablity benefits or if you are older (over-50).
General Advice - Moneysavingexpert.com
This is a wide ranging independent website - offering a large amount of help on a variety of money issues. It is run independently by Martin Lewis who appears on many money advice TV and radio programmes. It makes it money by including "affliate" links in its advice to other sites which then pay a small amount of money to moneysavingexpert.com. It has a section explaining how it is funded.
It is a very useful starting point for money advice - including further sources of money advice. It also has advice on how to save money by shopping around for things like insurance and gas and electricity and how to save money without reducing your lifestyle. It has a useful forum - but this is not heavily montiored or moderated so any advice from third parties should be double-checked.
It is also possible that you need you might be able to reclaim your bank charges. At the time of writing there is a test court case which is putting things on hold but if you are on a low income etc. then you may be able to reclaim the charges now. There are more details at: ww.moneysavingexpert.com/reclaim/oft-bank-charges
Housing Advice - Shelter
Shelter is the housing and homelessness charity. It runs a hepline and has advice on its website relating to housing issues - particularly your rights as a tenant with your landlord. Its website address is: england.shelter.org.uk
Tax advice - Tax aid
TaxAid is a UK charity providing free tax advice to people who cannot afford to pay a professional adviser. The service is independent and confidential. Its website is at: www.taxaid.org.uk
Emotional Help - The Samaritans
Money worries can be very emotional. The Samritans might be able to help. The Samaritans say: "Samaritans provides confidential non-judgemental emotional support, 24 hours a day for people who are experiencing feelings of distress or despair, including those which could lead to suicide. Whatever you're going through, whether it's big or small, don't bottle it up. We are here for you if you're worried about something, feel upset or confused, or just want to talk to someone."
More details on their help can be got from their website at which includes other sources of help for emmotional difficulties and stress: http://www.samaritans.org/
General Advice
If you are in arrears with your mortgage, the advice is that is never too early or too late to get in touch with your mortgage company.
You should also work out what your priority debts are. Normally you should prioritise housing costs such as mortgage repayments or rent. You should also pay your TV licence as you can get a large fine or possibly go to prison if you don't.
Other debts - particularly "unsecured" loans (loans that are not secured on your property) may be less important, particularly in the short term, but you should work out a budget and try and work out how you will repay your debts. Legal costs and other charges can signficantly increase your debts if you don't keep the companies and organisations that you owe money to informed and come to some arrangement with them. The National Debtline (details above) can help with this and helping your draw up a budget.
In general, most experts would warn people against or use extreme care when using commercial companies that advertise to solve debt problems. And certainly you should get advice from an independent source if you do. Most of the links above are to sites and help run by charities or Government organisations etc. unless the information says otherwise.
Do get in touch if you live in Portsmouth South and you think I can help.
