Are you dealing with an unexpected disruption to your finances?
If you are dealing with something unexpected that has impacted your finances, please don't worry, we're here to help.
Don’t wait to miss a payment before contacting us, advising us of a change in your circumstances will not affect your credit score.
Contact a member of our friendly team today on: 01536 52 96 96 or email info@performancefinance.co.uk
You can also speak to your dedicated Account Manager here
Have you already missed a payment?
Have you been sent a
default notice?
FCA Information Sheet 001
1) Read the default notice carefully.
It explains what you need to do, and what could happen if you don’t respond.
If you are not sure what it means, ask the lender or a debt adviser.
2) Get free debt advice – help is at hand.
You can get free, non-judgemental and independent help and advice from a number of organisations. You should first visit MoneyHelper’s Debt Advice Locator Tool: www.moneyhelper.org.uk/en/money-troubles/dealing-with-debt/use-our-debt-advice-locator
You can also call 0800 138 7777 or WhatsApp message +44 7701 342744.
See below, other organisations you can contact.
3) Find a solution with your debt adviser.
They can suggest ways to deal with the problem and to make sure the most important debts are paid first.
For example:
A debt adviser may be able to negotiate on your behalf.
They may be able to help you get 'breathing space' – a defined period where you have legal protections from action taken by your lender.
In some circumstances, they can help you ask a court for more time to repay a debt. Keep copies of letters and emails in case these are needed by the court.
Keep in mind
If you don’t do something quickly, the lender can take action against you, for example, by demanding payment of money owed, or repossessing goods on hire-purchase.
The default could stay on your credit file for 6 years, making it more difficult to get credit.
Have you been sent an
arrears notice?
FCA Information Sheet 002
1) Get free debt advice.
You can get free, non-judgemental and independent help and advice from a number of organisations. You should first visit MoneyHelper’s Debt Advice Locator Tool: www.moneyhelper.org.uk/en/money-troubles/dealing-with-debt/use-our-debt-advice-locator
You can also call 0800 138 7777 or WhatsApp message +44 7701 342744.
See below, other organisations you can contact.
Debt advisers can help you with the following steps, as we know they can be hard to do on your own.
2) Work out how much money you owe.
To do this, you can make a list of all the organisations you owe money to.
3) Contact the organisations you owe money to.
A debt adviser can do this for you if needed. Let them know you are having problems.
They may be able to discuss options for paying back what you owe.
4) Identify priority debts and put them first.
Some debts are more urgent than others, for example, mortgage, rent, council tax/ rates, or gas or electricity arrears.
Keep in mind
You may be entitled to ‘breathing space’ – a defined period where you have legal protections from action taken by your lender. Speak to a debt adviser, who can set out your options.
Further borrowing to repay debts is generally not a good idea especially if you take out high interest loans – you could pay more in the long run.
You may be able to ask a court for more time to repay a debt – but only in some circumstances. Speak to a debt adviser before considering court action. Keep copies of letters and emails in case these are needed by the court.
Doing nothing could make things worse
The lender could take legal action against you, and you could end up paying more in interest and charges. Missed payments could affect your credit rating and make it more difficult to get credit in future.
Contact Debt Advice
Debt Advice is where you get help from people in dealing with your debt.
They can help you talk to people you owe money to and set up a repayment plan you can stick to.
People that access advice resolve their issues more quickly than those that don’t and hundreds of thousands get free debt advice every year.
Whatever your situation, debt advice can help.
Your first port of call should be MoneyHelper’s Debt Advice:
Or 0800 138 7777 for telephone, or +44 7701 342744 for WhatsApp chat.
You can also contact the following not-for-profit organisations directly for free, non judgemental and impartial debt advice through telephone, online and face to face channels:
Moneyhelper
For free, unbiased and easy-to-access money tools, information and advice, visit www.moneyhelper.org.uk
or phone 0800 138 7777.
Money Advice Scotland
If you live in Scotland, visit www.moneyadvicescotland.org.uk to find contact details for debt advice in your local area.
Citizins Advice
For advice and information on debt and other topics, visit your local Citizens Advice or go to www.citizensadvice.org.uk.
Advice NI
If you live in Northern Ireland, phone 0800 915 4604,
email advice@adviceni.net or visit www.adviceni.net for debt advice.
Citizins Advice Wales
If you live in Wales, you can call Adviceline on
0300 330 1313 if you want to speak to someone about your debts. Calls cost 12p per minute from a landline, and from 3p to 45p from a mobile or visit www.citizensadvice.org.uk/wales/debt-and-money
Advice UK
Member centres offer debt advice including specialist advice for minority communities and people with disabilities – www.adviceuk.org.uk or phone 0300 777 0107.
Christians Against Poverty (CAP)
For free debt advice in your home, check post code coverage at www.capuk.org then call 0800 328 0006.
National Debtline
If you live in England, Wales or Scotland phone
0808 808 4000 or visit www.nationaldebtline.org for debt advice and information.
StepChange Debut Charity
For debt advice throughout the UK phone 0800 138 1111
or visit www.stepchange.org.
Business Debtline
Offers free and confidential debt advice to the self-employed and small businesses - www.businessdebtline.org or
0800 197 6026.
Other useful organisations
Civil Legal Advice
You may get legal aid if your home is at risk.
Check at www.gov.uk/civil-legal-advice or phone
0845 345 4345.
Financial Ombudsman Service
If you have a complaint that you can’t resolve with your lender, the Financial Ombudsman Service may be able to help – phone 0300 123 9123 or 0800 023 4567 or visit
www.financial-ombudsman.org.uk.
Samaritans
Call 116 123 or email jo@samaritans.org to get help if you’re struggling to cope with things.
The Samaritans can’t offer debt advice, but they can provide free and confidential help and wellbeing support to those in distress 24 hours a day, 365 days a year.
Contact us on: 01536 52 96 96 or email info@performancefinance.co.uk