Debt and money advice

Many people get into debt at some point in their lives and there are many reasons why.

The main thing to remember is that if you ignore debt, it will only get worse and the sooner you do something about it, the better you will feel and the more control you will have.

There are a number of services available for help and advice on debt matters, including:

  • Council One Stop Shops host regular ‘Money Made Clear’ surgeries to advise people about money issues, including how to deal with debt and creditors. They will also signpost people to specialist debt advisors
  • Your local Citizens Advice Bureau provides free, impartial and confidential advice on debt and welfare. You can also call their advice line on tel. 0844 477 2121
  • The National Debt Line provides lots of useful information on dealing with debt, including a personal budget section to work out what repayments you can afford, help to see if you can pay your debts via a Debt Management Plan, sample letters to write to your creditors, a library of factsheets, help to see if you qualify for a Debt Relief Order. Call their Debtline free on tel. 0808 808 4000 (Monday – Friday 9am-9pm, Saturday 9.30am-1pm)
  • Community Legal Advice is a free and confidential advice service paid for by legal aid. You can also call their  free, confidential legal advice line on tel. 0845 345 4345
  • Bankruptcy Insolvency Debt Advice Service is a freephone national debt advice service and online resource for consumers with debt problems. The service can help with the setting up of Individual Voluntary Arrangements (IVA), general budgeting advice and Bankruptcy - 0800 074 6918 (9am to 9pm Monday to Sunday)
  • The Money Advice Trust is a charity formed in 1991. They aim to increase the quality and availability of free, independent money advice to people with debt problems
  • Consumer Credit Counselling Service (CCCS) is a free and confidential debt help service. Debt Management Plans (DMPs) are a common solution to many debt problems. However, many companies offering DMPs charge fees for their services, whereas debt advice charities such as the Consumer Credit Counselling Service offer expertly crafted DMPs, free of charge. To see if you may need a DMP, use the CCCS Debt Remedy online tool.  
  • Debt Support Trust is a not for profit charity with trained, friendly debt advisors ready to advise you on your available debt solutions..

 

Loan sharks

Loan sharks tend to work in similar ways, for example:

  • they rarely give any paperwork to the people they've loaned money to - making it very difficult to keep track of how much is owed
  • if payments are missed, they often use threats and violence to get more money
  • they charge extremely high rates of interest and also add other 'charges' to loans whenever they want
  • they take away people's bank cards or benefit books as 'security'
  • people involved in illegal money-lending tend to be part of other criminal activities, too. This can include gun and knife crime, counterfeiting and drug-dealing

You can report a loan shark in confidence by:

Visit the Directgov website for more information about avoiding and reporting loan sharks. 

Loansharks and doorstep lenders can cost a lot more than you think - but there are alternatives:

 

Wirral Credit Union  
Wirral Credit Union offers savings and loan accounts to people who live or work in Wirral. Members can save and receive an annual dividend as well as accessing low cost loans.

Two types of account are available:

  • Small Cash Accounts - Members may save whatever they can afford and can apply to borrow up to £500 after saving for a minimum of 3 months
  • Standard Accounts - Members may deposit money via their wages or via standing orders. Those paying in via wage deduction may apply for a loan of up to three times their savings. They currently have payroll deduction schemes with many local employers, including Wirral Council, NHS, Biffa and Wirral Partnership Homes.

Those paying in via Standing Orders can apply for an initial loan of 1.5 times their savings after saving for a minimum of three months; once this initial loan is repaid then future loans are available of up to twice their savings.

Contact Wirral Credit Union: 

Website: www.wirralcu.org.uk

  • 403 Poulton Road, Wallasey, CH44 4DF (Head Office). Tel. (0151) 638 4332
  • 114 Laird Street, Birkenhead, CH41 8EN. Tel. (0151) 201 1051
  • 77 New Chester Road, New Ferry, Wirral, CH62 1AB. Tel: (0151) 645 8251

Opening times:

Mon to Thur     10am - 4pm
Fri                    10am - 2pm  (Poulton Rd and Laird St only)
Sat                   Closed
Sun                  Closed

 

The MoneyLine
Moneyline is a not-for-profit organisation that can help people who need a loan when their bank or building society can’t help.

They take benefits into account as income, so they will try to help people whether they’re working or not.

For loans, savings, advice and information, contact the local Moneyline office at:

9 Grange Road West, Birkenhead, CH41 4BY.
Tel: (0151) 647 4062
Or visit the MoneyLine website.  

Opening times:  Monday - Friday (9.00am - 4.00pm)

 

Debts to the Council - The Fair Debt Scheme

Some people may have a debt or a number of debts owing to the Council and are unable to pay them off in the time expected.

Wirral Council understands the problems associated with debt and has a policy, known as the Fair Debt Scheme, to help its customers pay off some of the debt they owe to the Council.

The policy aims to break your cycle of debt by helping people to keep up with their payment of current bills and help stop them getting into even more debt.

If you owe money for more than one of the following:

Council Tax

  • Housing Benefit Overpayments
  • Business Rates
  • Sundry Debtors Invoice

You can make one single payment towards the total amount owed under the Fair Debt Scheme.

To apply for help under the Fair Debt Scheme please contact the Council on tel. (0151) 606 2002 or call into any of the Council's One Stop Shops.