Debt advice

We understand how daunting it can be to get help when you are in debt.

Our Financial Support Officers can advise you on the best solution to your debt problems by providing advice and support with:

  • Budgeting.
  • Maximising your income.
  • Drawing up a financial statement to see what money you have available, if any, to pay your creditors.
  • Signposting you onto a free, impartial debt advice provider for further support (see the links on the right-hand side of this page)

If you’re worried about money, a loan from a doorstep lender may seem like the only option, especially if you have a poor credit rating.

Doorstep lenders

Doorstep lenders (or payday loans, as they’re also known) are usually registered with the Financial Services Register. They should explain the main features of the loan, including how much you will pay back and what happens if you fail to make repayments.

They provide short-term loans for small amounts of money and can be found online and through high street shops. Doorstep loans can be easy to get but they often charge very high interest rates of up to 1,500%.

If you’re concerned about your finances, please speak to our Financial Inclusion Team on 0344 736 0066 or email info@regenda.org.uk before taking out a doorstep loan. They may be able to secure additional benefits and grants to help you.

Loan sharks

Loan sharks are illegal lenders who offer loans at very high interest rates and often resort to violence to if you are unable to make your repayments. They provide little or no paperwork like receipts for payments made and will not tell you how much you owe or how much you will pay in total. They may refuse to let you to settle your debt. To check whether a lender is legitimate, check the Financial Conduct Authority website https://register.fca.org.uk/s/

If you’re considering using a loan shark, please call our Financial Inclusion Team straight away on 0344 736 0066 and they will be able to offer advice and support.

How can Regenda Homes help?

If you are worried about debt please contact us and ask to speak to one of our Financial Support Officers.