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STEP 2: FINANCIAL INFORMATION

Once you make contact with us, we will ask you to complete a Standard Financial Statement (SFS). This is essentially a budgeting tool, which lists all of your monthly household income and outgoings in their various categories. An EBS representative will clearly explain how to complete the SFS.

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By writing down all the money you have coming in and going out each month, you’ll see if you have enough to meet your monthly commitments. The SFS will also help us get a better understanding of your financial situation.

Once we receive your completed SFS, we will arrange to review it with you to make sure we fully understand your financial circumstances. We may also require other documentation such as payslips, current account statements and welfare certificates. The Standard Financial Statement is available on our

website, in your local EBS office or by calling 1850 586 778.

NEED INDEPENDENT FINANCIAL ADVICE?

It may help to get some independent financial advice to complete the SFS from your local MABS office (Money Advice Budgeting Service) or an appropriate alternative.

To contact MABS, phone lo-call 1890 283 438 or visit their website on www.mabs.ie

TIPS FOR MANAGING YOUR BUDGET

  • Take a look at your completed SFS and see if there are any

expenses you can reduce or cut out all together.

  • List all your spending, no matter how small, throughout the month.

  • Be realistic about what items cost.

  • Shop around for better deals.

At the end of each month, compare your planned incomings and outgoings against your actuals and, if necessary, adjust next month’s budget.

STEP 3: ASSESSMENT

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The EBS Arrears Support Unit (ASU) works closely with all mortgage holder(s) who are experiencing financial difficulties in relation to their mortgage repayments. We will talk through the options available to you and together decide on the best course of action.

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The standard financial statement (SFS) is an important tool to help us understand

the problem and decide on the best solution.

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If the SFS shows that your outgoings are more than your income, we will look at ways to address the situation. No two situations are the same, which is why the ASU looks at each case on an individual basis. The right solution for one mortgage holder may not be the right solution for you.

The assessment process will take into account your personal circumstances such as your overall level of borrowings, information provided in the SFS, your current repayment ability, previous payment history and other personal information provided. Looking at each of these areas, the ASU explore a realistic solution for both the mortgage holder and EBS.

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