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Insolvency Advice from Lanyon Bowdler

It’s tempting to bury your head in the sand, but if you have mounting debts it’s vital to take action - and there are lots of things you can do to improve your money situation.

Pay particular attention to your main priority bills - mortgage or rent, utility bills and council tax - and pay those first. But if you don’t have the available funds to pay on time, consider these options:

  • Contact your utility providers (gas, electricity and water) to ask if they offer any schemes to help householders who are having payment difficulties - many do.
  • If you receive benefits, such as income support, pension credit or income-based job seeker’s allowance, you may be able to have amounts deducted from your benefit and paid directly to your gas and electricity provider (gas and electricity). This demonstrates your willingness to pay off your debts and may prevent you from being disconnected.
  • If you receive state benefits, contact your benefits office to find out what options are available, such as a crisis loan.

For any other unsecured debts, there are various options available to you:

  • Speak to your creditor to ask if they would consider a lower payment. Most will be open to this if you can demonstrate that you are unable to pay the full amount.
  • Apply to your local County Court for an administration order (this is subject to certain conditions).
  • If you are facing serious financial difficulty then it’s worth seeking advice on whether or not you should apply for bankruptcy.

Mortgage Debt Advice

Like any debt, if you are behind in your mortgage payments it's extremely important to deal with the problem as soon as possible. Contact your mortgage lender and talk them through your current circumstances. Remember that lenders will only turn to repossession as a last resort and may well be open to considering repayment holidays or extending the type of your mortgage or the length of its term.

If possession proceedings have already been issued and you feel like you are at a real risk of losing your home, your local council’s housing needs department may be able to help find you somewhere else to live.

If you live in Shropshire, click here https://www.shropshire.gov.uk/joint-strategic-needs-assessment/vulnerable-people/homelessness/

If you live in Telford & Wrekin, click here http://www.telford.gov.uk/info/1010/housing/22/homelessness

If you live in Herefordshire, click here https://www.herefordshire.gov.uk/housing/housing-advice

The personal debt and insolvency solicitors here at Lanyon Bowdler are warm, friendly and accessible, and can offer expert legal advice to help you with any debt or insolvency issues. Our lawyers and debt advisers work with clients throughout the UK.

We offer a wide range of pricing options, including fixed fees and service level guarantees.

Give us a call or complete our online enquiry form, to see how we can help. We have offices in Telford, Shrewsbury, Oswestry, Ludlow, Bromyard and Hereford so are able to act for clients all over Shropshire, Herefordshire, Mid and North Wales and across the Midlands.

Testimonials

She was supportive and very helpful - will be recommending to others who need a similar service.

- Mrs E Sumner, Telford

Direct line to acting solicitor.

- Mr H Williamson, Llansantffrraid

Ed clearly had a heavy workload at the time, yet ensured everything was completed in appropriate timescales including working extended hours.

- Mr J Ostler, Hereford

Politeness, clarity of information.

- Mr C Pudge, Worcester

She replied to my emails and concerns almost immediately, including evenings and weekends!

- Mrs E Turner, Hereford

Quotes

The welcome at reception and the relaxed atmosphere when discussing things with the person handling the sale of my property.

- Mr W Ward, Oswestry

Kept me up to date in any process made.

- Mr P Haigh, Suffolk

Politeness, clarity of information.

- Mr C Pudge, Worcester

Very patient - my own records weren't the best.

- Mr J Pearson, Oswestry

I was competely satisfied with all aspects of the service.

- Mr S Taylor, Telford

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