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  2. 2014
  3. June
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  5. Savings and breathing space research

Savings and breathing space research

 
What action had your creditors taken against you before you contacted us? (please tick all that apply)
Added additional interest/ didn’t freeze interest (if interest already charged) Added additional charges Put me under pressure to pay (phone calls, emails, letters, texts threatened legal action,) Taken enforcement action against me (bailiffs, applied for court order, charging order etc) Not applicable, I haven’t fallen behind on this account
* Unsecured creditor (Credit card, overdraft and loan providers)
* Landlords
* Mortgage lenders
* Utility companies
* Council tax collectors
 
 
Before contacting us did you contact any of your creditor(s) to ask for help with your bills? (please tick all that apply)
Yes, all of them Yes, some of them No, none of them
* Unsecured creditor (Credit card, overdraft and loan providers)
* Landlords
* Mortgage lenders
* Utility companies
* Council tax collectors
 
 
After asking for help with your bills, did any of your creditors agree to stop the further action (e.g. interest, charges, threat of legal action)? (Please tick all that apply)
All agreed to stop all the actions All agreed to stop some of the actions Some agreed to stop all the actions Some agreed to stop some of the actions None agreed to stop the actions Not applicable
* Unsecured creditor (Credit card, overdraft and loan providers)
* Landlords
* Mortgage lenders
* Utility companies
* Council tax collectors
 
 
 
* Of the creditor(s) you did not contact, why did you not contact them? (tick all that apply)
 
Wasn’t aware they could offer any help
 
Didn’t think they would actually offer me any practical help
 
I was embarrassed about asking for help
 
I thought my situation would improve more quickly than it did
 
I’d asked before and didn’t get any help
 
I thought I could cope without help
 
I was worried they’d take further action against me
 
I was worried that asking for help would reduce my chances of getting credit
 
I wasn’t aware I was struggling
 
I wasn’t in a fit state to get help myself
 
N/A I tried to get help from all of my creditors
 
Other
 

 
 
 
* Did you use any additional credit to pay bills (including credit commitments) where your creditor was continuing collection action and adding additional charges and interest? (tick all that apply)
 
Yes, I borrowed more money using existing credit lines
 
Yes, I borrowed more money using new credit lines
 
Yes, I took out a payday loan
 
No, I didn’t take out any further credit

 
 
 
* How did your creditors’ actions affect you and your family? (tick all that apply)
 
It put me off talking to my creditors
 
It prompted me to use more credit to keep up with bills
 
It prompted me to pay that bill and fall behind on other bills
 
It put me under more stress
 
It made it harder to focus on applying for new or better paid work
 
N/A it didn’t affect me
 
Other
 

 
 
 
* Which of these describes you when you fell into financial difficulties?: (tick all that apply)
 
I was optimistic about quickly getting my finances back on track without additional help
 
I was optimistic that I could manage my finances by juggling bills and credit.
 
I realised I was in some difficulty and thought I needed temporary support to get my finances back on track.
 
I realised I was in more serious difficulty and thought I needed longer term support to get my finances back on track.
 
I didn’t know what to do.
 
Other
 

 
 
 
* How long were you struggling with your finances before you asked for debt advice? (tick one)
 
1-3 months
 
4-6 months
 
7-9 months
 
10-12 months
 
Over a year
 
 
 
* Why didn’t you look for debt advice earlier? (tick all that apply)
 
I wasn’t aware debt advice could offer any help to people like me
 
I was embarrassed about asking for help
 
I thought my situation would improve more quickly than it did
 
I had advice before and didn’t get any help
 
I thought I was on top of my finances
 
I wasn’t in a fit state to get help myself
 
I thought debt advice was only for more serious debt problems
 
I thought debt advice could only get more drastic solutions, like bankruptcy or insolvency
 
I was worried that getting debt advice would get effect on my credit file badly or reduce my access to credit
 
I did not know where to get reputable advice
 
Other
 

 
 
 
* What prompted you to get advice in the end? (tick all that apply)
 
I recognised that my debts had become unmanageable
 
I was getting more and more threatening letters and calls
 
My creditors had started court action
 
I thought my debts were serious enough to make advice worthwhile
 
I’d tried getting help from my creditors but wasn’t able to get any
 
Someone I trust encouraged me to get advice
 
I was referred for debt advice by my creditors
 
Other
 

 
 
Since getting debt advice my creditors have…
Yes, all have Yes, some have No, none have
* Stopped charging me additional fees
* Stopped interest
* Stopped further collection action against me
 
 
 
* How has having interest and charges frozen and no further action by your creditors helped you? (tick all that apply)
 
It has made it easier for me to pay down my debts
 
My finances have stabilised
 
My family relationships have improved
 
I'm able to sleep more easily
 
My anxiety has reduced
 
N/A I haven’t had a freeze on interest, charges and enforcement
 
Other
 

 
 
 
* Have you been out of work at any point while you’ve been in problem debt?
 
Yes
 
No
 
 
 
* Getting a freeze on interest, charges and collection action has… (tick all that apply)
 
Made it easier to apply for a new job?
 
Made it easier to sustain a new job
 
Made me worried about higher debt repayments if I took up a new job

 
 
 
* Getting a freeze on interest, charges and collection action has… (tick all that apply)
 
Made it easier to apply for a better paid job?
 
Made it easier to sustain your current job
 
Made me worried about higher debt repayments if I took up a better paid job

 
 
 
* Would any of the following have encouraged you to get advice earlier than you did? (tick all that apply)
 
Knowing that getting advice could stop interest, charges, and other collection action and help me make lower payments for a temporary period
 
Knowing that I had a right to temporary help from my creditors if I asked
 
Clear information from my creditors about the help they could offer
 
Getting more encouraging messages from my creditors to get help earlier
 
Knowing how much my debts would increase through interest and charges if I delayed getting help
 
Knowing that getting advice wouldn’t make my situation worse, for example to my credit rating, job
 
I don’t think anything would have encouraged me to get help earlier
 
N/A
 
Other
 

 
 
 
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