With the credit crunch starting to bite, some families are finding it harder and harder to pay the bills. If you are struggling to make ends meet, what can you do? Here at MoneyTowers.com, we have put together a short guide of what to do if you find you can’t pay some of your bills.

Mortgageoffice furniture in Bulgaria
Your mortgage is probably one of the bills that should take priority over other bills. If you are starting to find it a struggle to pay your mortgage, it is never too early to contact your mortgage provider. If your local office is unhelpful, try giving head office a call. Your mortgage provider may be able to help you, perhaps through a payment holiday.

Even if you have missed a few payments already, it is not too late to talk to your lender – opening up a dialogue with them is better than avoiding the issue. It is important to still pay what you can, even if it isn’t the full monthly amount.

Mortgage lenders have a duty to be fair with borrowers and help customers set up a payment plan if they are struggling to pay their mortgage. This payment plan should be a practical, personalised plan. The mortgage lender is not allowed to put too much pressure on your with calls and letters, although by keeping an open channel of communication with them will allow for the whole process to be as smooth as possible.

If you feel your mortgage lender has not treated you fairly, you can complain to the Financial Ombudsman Service.

Rent
The first port of call here is the tenancy agreement. If you have an “assured shorthold tenancy” it is easier for the landlord to evict you. If you are struggling to pay your rent, speak to your landlord as soon as you can and try and work out some form of payment plan. Remember that your landlord cannot try to evict you without going through the courts, and if they threaten or harass you, they are breaking the law.

Council Taxmebeli
Most council tax is paid in 10 installments each year. If you find you are unable to meet one of these payments, you should try and pay as much as you can afford. You should also contact your local council and explain your situation, perhaps asking them if they would accept lower payments from you for a given period of time.

Gas and Electricity
If you fail to keep up to date with your gas and electricity, the utility companies can cut your supplies off without a court order. This means that if you feel you are unable to pay a bill, you should contact the company as soon as possible. Under their code of practice, all fuel companies should accept reasonable repayments if you are struggling financially.

It is worth checking that the bills you receive are also based on meter readings and not just estimates, as this may make your bill higher than it should be. As a future step, it may be worth asking for a pre-payment meter to be installed at your property.

Water
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Credit Cards, Loans etc
Firstly, contact each of your credit card and loan companies to see if they will accept smaller payments, or can offer you a payment holiday. You should also ask if they can stop charging you interest on the balance that you owe for a short period of time, as well as asking if they will waive any late payment charges.

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