Dealing with Your Debts

Most people experience financial difficulty at some point in their lives. Bills, loan repayments, providing for a family and simple day to day living can all put a strain on finances.

Whatever your situation, you are not alone. There are lots of organisations that can help you to deal with your money problems. Ignoring the problem and hoping it will go away will only make the problem worse.

Our Dealing with Debt booklet offers advice on how to deal with money problems and how to get help from other organisations.

The UK Insolvency Helpline Debt Advice Service offers a 24 hour free phone advice line: 0800 074 6918 Online at www.insolvencyhelpline.co.uk

Loan Sharks: The Low Down

What is a loan shark?

  • People who offer to lend you money when you’re in a fix.
  • They might seem friendly at first, but could turn nasty.
  • Loan sharks pretend to offer a community service but they don’t.

Why should you avoid them?

  • They may not give you a written agreement, but you need one so you know where you stand.
  • You may not know how much you have to repay or for how long.
  • Loan sharks are often involved in other criminal activity.

Who else can I borrow money from?

  • If you need a loan, always go to a licensed lender. To check they are licensed, call the Public Register on 020 7211 8608.
  • Shop around for the best deal – some lenders/banks are cheaper than others.
  • If you are on a low income and need to borrow a small amount for a short time, go to a credit union. They can help local people save and borrow at affordable rates.
  • The local benefits office (DWP) can make emergency payments, if you are eligible.
  • If you are not sure about a licensed lender or want to know your consumer rights call Consumer Direct, a government funded advice service on 0845 040506 or visit their website at www.consumerdirect.gov.uk to find your local organisation.

What should you do if you owe money to a loan shark, or they are knocking on your door?

  • You don’t have to repay any money lent to your illegally.
  • Loan sharks have no legal right to your money.
  • Don’t ignore the problem. It won’t go away unless you decide to take action.
  • Loan sharks may frighten you by saying you will be prosecuted if you do not pay up, but in reality this won’t happen as you haven’t actually committed a criminal offence.
  • If you, or anyone you know, are being threatened, or believe you are in danger at the hands of a loan shark, you should call the police.
  • It is an offence for someone to call on you or knock on your door uninvited and offer you a loan.
  • It is an offence for anyone to harass you in pursuit of an unpaid debt.
For further advice contact the Illegal Money Lending Unit in confidence on 0121 693 1122

email:stoploansharks@birmingham.gov.uk or Text Loan(space)shark(space)+your message to 60003

Cost of Running a Home

If you already have a place of your own you will know just how much it costs to run a home, on top of the rent and council tax. However if you are setting up your first home, you may be surprised at all the costs involved with running a home. Our Cost of Running a Home guide aims to give an idea of the costs you will have to budget for.

Home Contents Insurance

Do you have it?

Have you ever considered what you would do if the unthinkable happened?

What if you were burgled, suffered a burst water pipe or even a fire?

You may not realise it but BCHA are not responsible for your personal belongings. If the contents of your home needed replacing, it would be down to you to pay for them.

Please contact us for information on Low Cost Home Contents Insurance Schemes designed specifically for tenants (which could cost you as little as £1.50 per week).

Tenant Reward Scheme

What is it?

Our tenant reward scheme is a way of saying thank you to our tenants who pay their rent on time, respect their homes and keep to their tenancy conditions. There will be four draws of £100 each quarter. All tenants who meet the criteria can apply to be entered in the draw.

Who can apply?

To be eligible, tenants must:

  • Have no rent arrears at the end of each quarter period or have made arrangements to pay off any arrears and maintained those agreements consistently for each quarter period.
  • Have no history of nuisance or anti-social behaviour in relation to their tenancy agreement.
  • Have a tidy garden.
  • Have kept appointments made for servicing of gas appliances in the last 12 months.

Frequently Asked Questions

Will it cost me anything to take part?
No. You simply need to meet the conditions listed above.

What if my rent is paid by Housing Benefit?
Tenants in receipt of Housing Benefit can also apply provided they have given all information required to ensure that their claim is up to date.

Am I eligible if I only rent a garage?
No. The scheme is only open to tenants of our homes.

What if I owe other debts to BCHA?
You can still apply but if you win your winnings will be offset against any of your outstanding debts, for example repair recharge costs.

How do I apply for the Tenant Reward Scheme?
Complete an application form which is included with your quarterly rent statement and return it to us. Extra copies of this form can be obtained from our office.

Other Useful Links

  • www.energywatch.co.uk – Energy Watch is a site that compares’ gas and electricity prices.

  • www.ssafa.org.uk - SSAFA help and support those who serve in the Armed Forces and those who used to serve - even if it was only for a single day.

  • www.uswitch.com - uSwitch.com is a free, impartial online and phone based comparison and switching service that helps customers compare prices on a range of services including gas, electricity, home phone, broadband providers and personal finance products.

  • www.nhsdirect.nhs.uk - The NHS website offers health advice and information 24 hours a day, online and on the telephone.

  • www.firststopadvice.org.uk - FirstStop Advice is an independent, free service providing advice and information for older people, their families and carers about care and housing options in later life.

  • www.hiddenfees.co.uk – A online guide to avoiding unexpected additional charges for goods and services.
     
  • www.moneymadeclear.fsa.gov.uk – Moneymadeclear can give you information and pointers about your money to help you work out what’s right for you.

  • www.insolvencyhelpline.co.uk - The UK Debt Help & Insolvency Helpline is the UK’s first fully interactive online resource which enables all types of commercial entities and individuals the opportunity to have direct access to the UK’s most skilled professional advice on all debt and insolvency issues.