Help for families struggling with mortgage debt

26 October 2009

Ribble Valley Council is offering help to families who fall behind on payments towards their rent or mortgage debt, the Lancashire Evening Post reports.

The Council`s `repossession prevention fund` allows households in the area to receive up to £5,000 to help catch up with mortgage arrears - or up to £1,000 for rent arrears.

The money is only available for households who have fallen behind on their payments through no fault of their own.

A spokesperson for debt management company Gregory Pennington commented: "It is encouraging to see schemes being set up to help those who fall behind on payments towards their rent or their mortgage debt.

"Many people who are struggling with their mortgage/rent are in that situation because of problems they have with their unsecured debts. In cases like these, a debt solution such as a debt management plan may be appropriate - making their unsecured debts affordable again, it could allow them to keep on top of their mortgage/rent payments.

"Anyone who is struggling with payments towards their debts - secured or unsecured - should contact a professional debt adviser without delay."

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Gregory Pennington offer debt management plans as well as a range of other debt solutions. If you are worried about debt, contact one of our expert debt advisers now.

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Gregory Pennington is a member of DEMSA whose code of conduct is approved by the Office of Fair Trading.