- £9,000 in unsecured debt
- 7 different creditors frequently calling to chase payment
- Council tax and utilities arrears
- Reduced household income
- Worried about mortgage fixed rate ending soon and getting behind with their payments
Mr & Mrs B have been struggling with their finances and needed some extra support to manage everything. They have a disabled child and, due to temporary but serious health conditions, Mr B had to leave his employment for a few months. The couple were up to date with their mortgage payments, but behind with payments on their council tax and with their energy provider. And the frequent calls from other unsecured creditors were very difficult to deal with.
PayPlan went through the couple’s budget, also known as an Income & Expenditure, which identified they were £90 short after all their bills and essential expenses had been paid each month.
A budget review with PayPlan - Helped to increase income and reduce outgoings for this couple.
PayPlan suggested Mr & Mrs B change to Universal Credit from legacy benefits which would increase their income by £78 per week. And to contact their energy provider and ask about the Winter Warmth Allowance for households claiming Disability Living Allowance.
They also encouraged the couple to shop around for a better deal on Home and Car Insurance, and to ask Sky & BT for more affordable packages.
Overall, the budgeting review helped them to go from being £90 short each month, to freeing up an additional £200 per month.
“I haven’t been put in this position before and it’s worried me sick. PayPlan’s budgeting guidance made a world of difference. I would have got myself deeper into trouble had I not spoken to PayPlan and now I have a plan to manage my finances each month.”