Financial support options

1. Breathing space

We may be able to give you some time to get your finances in order, by stopping most contact (except for some letters which are required by law). We can do this, for example if you're working with a third party free money advice organisation, or if you’re in the process of setting up an IVA (Individual Voluntary Arrangement).

However, if you do not make payments during the time your account is on breathing space, your arrears will increase. This will be reported on your credit file.

2. Catching up over a longer period

If you've missed a payment or two, we may be able to help you by spreading the repayment of the arrears across a set number of months. This is a way you can get your account back up to date, without paying the outstanding amount all in one go. We may also be able to reduce the interest and freeze fees at the same time.

Please be aware that during the time your account is in arrears, this will impact your credit file. We may advise credit reference agencies that an arrangement is in place to clear the arrears.

3. Paying less than your normal amount

If you’re struggling to afford your normal amount, we may be able to reduce your monthly payments to give you a chance to catch up. Or if your change in circumstance is long term, we could set this up to repay what you owe at an affordable rate.

We may be able to reduce or freeze interest and fees whilst you have an arrangement, however, this will affect your credit file. This can affect your ability to get credit elsewhere in the future.

4. Free debt advice organisations

If you have outstanding debts with other companies, or you are struggling to maintain payments on your priority bills, such as mortgage, rent, utilities etc, you may want to consider contacting a specialised debt help organisation.

These organisations are there to help you, and do not charge for their services.

Debt charities and organisations