Are you feeling the effects of the credit crunch?

Don't leave it too late, get help now!

This webpage highlights the free information and support that is on offer to help local residents deal with the some of the worst effects of the credit crunch. Our message to anyone feeling the effects of the credit crunch is that you must not leave it too late to get the help and advice that is on offer.

Keeping your home

Taking early action is particularly important if you are facing problems paying your mortgage or you have secured loans against your home that you are struggling to repay - you need to talk to your lender as soon as possible:

• Take action early.
• Talk to your lender.
• Don’t ignore letters.
• Always attend court repossession hearings in person.

Where to go for advice if you are a homeowner

Schemes such as Homeowners Mortgage Support (HMS) and the Mortgage Rescue Scheme may help you to keep your home. For information about these schemes and other advice about mortgage problems follow the links below:

• Directgov - Homeowners Mortgage Support (new window).
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• Directgov - Mortgage Rescue Scheme (new window).
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• Homeowner Rescue Advice Centre (new window)
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• Citizens Advice Bureaux Advice Guide (new window).
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• or contact your local Citizens Advice Bureaux.

Financial help with mortgage or rent payments

• If you are a homeowner you may be entitled to support for mortgage interest (SMI) (new window).
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• If you rent a property you may be entitled to Housing Benefit.

There is an online benefit calculator (new window) which can give you an estimate of your entitlement to benefit. To find out more about the maximum levels of Housing Benefit that can be paid (the Local Housing Allowance) go to the LHA-Direct website (new window).

Sale and rent back schemes

If you are considering selling your home to a company who will rent it back to you, take your time and take independent advice before making a decision. You will need to check how long you can be sure of renting your home, when the rent can be raised and whether you will be entitled to Housing Benefit.

• Shelter - advice about sale and rent back schemes (new window)

Debt advice

If you are struggling to pay off debts, don’t bury your head in the sand, there is advice available.

• Citizens Advice Bureaux (new window).
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• Consumer Credit Counselling Service (new window ) - 0800 138 1111.
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• Financial Services Authority - Money made clear (new window) - 0300 500 5000.
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• National Debt Line (new window) - 0808 808 4000.
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• or contact your local Citizens Advice Bureaux.

Don’t borrow money from loan sharks - for information follow the link below or call 0300 555 2222 to speak to someone in confidence.

• Directgov - Stop loan sharks (new window).

Increasing your income

If your income has reduced or you have become unemployed, make sure you claim all the benefits to which you are entitled.

• Directgov - guide to benefits and financial support (new window).

If you're responsible for at least one child or young person who normally lives with you, you may qualify for Child Tax Credit. If you work, but earn low wages, you may qualify for Working Tax Credit. For more information follow the links below or ring the tax credits helpline on 0845 300 3900 (textphone 0845 300 3909).

• HMRC - What are tax credits? (new window).

Try an online benefits adviser to find out what benefits and Tax Credits you may be entitled to:

• Directgov - online benefits advisor (new window).
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• Entitledto online benefits calculator.

Information about benefits can also be found at:

• The Pension Service (new window).
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• Benefits Now - benefits and health information (new window).

Benefit helplines

• For people with disabilities - 0800 88 2200 (textphone 0800 24 3355).
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• For advice about Pension Credits - 0800 99 1234 (textphone 0800 169 0133).
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• Jobcentre Plus new and repeat benefit claims - 0800 055 6688 (textphone 0800 023 4888).
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• Tax Credits - 0845 300 3900 (textphone 0845 300 3909).

Relationship problems

Money worries can sometimes cause problems within the family or relationship breakdowns. Advice and information is available from:

• National Family Mediation Helpline (new window) - 0845 60 26 627.
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• National Domestic Violence Helpline (new window) - 0808 2000 247.
  Helpline for women, children and their supporters.
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• Suffolk Domestic Violence and Abuse Helpline - 0800 783 5121.
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• Break the Pattern website (new window).

Housing advice

Suffolk Coastal's Housing Options and Benefits teams can provide information and advice about:

• How to find a private rented property.
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• Whether you are eligible for help with a deposit or rent in advance.
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• Applying for Housing Benefit.
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• Applying for a council or housing association home.
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• Preventing you from losing your home.

If you are homeless or threatened with losing your home the Council may have a duty to provide you with temporary and/or permanent housing.

Other useful sources of advice and help

• Ipswich County Court Advice and Representation Service (new window).
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• Credit Crunch Suffolk website (new window).
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• Shelter (new window).

NHS Credit Crunch Stressline

Job insecurity, redundancy, debt and money problems can all cause feelings of distress. When times are tough, it's quite natural to feel worried or down. It's when these feelings go on for weeks that they can start to affect your health and wellbeing.

If your worries about the credit crunch are interfering with your life you can get some help by calling the NHS Credit Crunch Stressline on 0300 123 2000 (open 8am to 10pm, 7 days a week) and speaking to a trained health advisor who will offer you practical advice or point you to the right service.