Debt advice

Updated: 10 May 2011

Fair Finance and Money Matters

We offer a debt advice service for residents called Money Matters.

Residents with large arrears or escalating multiple debts can be referred to the project and helped to prioritise debts, produce budgets and structure repayments.

Increasingly, people can find themselves in a mire of debt of which they are unable to get out. Those on lower incomes are unable to open bank accounts and can become financially excluded. They can become prey to loan sharks and moneylenders who charge very high charge interest rates, making the original loan virtually unpayable.

Fair Finance offers loans to residents referred to them by the debt advice scheme to help them out of escalating debt. They also offer small business and microcredit loans, all at a lower rate than people would obtain from unscrupulous lenders.

So far, Money Matters has helped more than 100 residents to reduce the money they owe. Support is provided for Bengali and Somali speakers and each client receives around 50 hours support.

To find out more, please contact us.

Help with your utility arrears

The East End Energy Fit Team is a new project based at the Bromley By Bow Centre and Toynbee Hall. They are there to help any individual and families who have utility (gas and electricity) arrears to clear their debts off completely. They are funded by the British Gas Energy Trust and EDF energy trust.

More information about East End Energy Fit
East End Energy Fit (134 KB)

Further advice

Below are some useful links to other websites which may help you.

National Debt Line - free, confidential and independent advice on how to deal with money problems. You can also call their freephone number on 0808 808 4000.

Toynbee Hall financial inclusion - a local organisation providing workshops and money guidance

Fair Finance - our debt advice partner, who provides independent advice.

Tower Hamlets Council debt advice - if you live in Tower Hamlets.

Newham Council debt advice - if you live in Newham.

Hackney Council debt advice - if you live in Hackney. This website also has a benefits calculator.

Citizen's Advice Bureau

Now let's talk about money - Direct.gov website

Credit Action - National charity for debt advice

Where to go for advice in Tower Hamlets (230 KB)

For some useful advice about saving money, have a look at Money Saving Expert.

For independent consumer advice, look at Which?

For advice about loan sharks and unlicensed money lenders, look at Direct Gov - Loan Sharks advice.

Please note these are independent sites and Gateway does not have any control of the content. If you find any of these links are broken, please contact us.

Printable version