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3. Debt advice

Before applying for the scheme, you must contact your existing mortgage lender to discuss your financial situation and to find out if they can help you.

If your existing mortgage lender is unable to help, you should then seek free advice from a debt advice agency who will review your financial situation and produce a debt solution plan.  This plan will include: 

  • information about any debt solutions they think are right for you and how you can set them up
  • a monthly budget plan so you know what you have to spend
  • advice on dealing with the people you owe money to
  • ways you can increase your income or reduce your spending
  • information about what would happen if you did not pay your debts

When you apply to the scheme you must include your debt solution plan with your application. 

Help to Stay – Wales works closely with the debt advice agency PayPlan, however you can use any free debt advice agency.

The Money Helper website provides other options to find free debt advice service.

You will not be able to proceed with your application without a debt solution plan and budget assessment.