Debt Management

Don’t suffer in silence. If you ever find yourself worrying about how to manage debt, help is always available. Our debt management guide helps you to work out a budget and to create an action plan. Remember, you can always talk to our team of experts about your money worries and they’ll help you get back on track. The most important thing is to get help as soon as you can. 

Budgeting
Creating a debt management plan
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How TSB can help you
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Third party advice and support
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1) List your debts

Using our income and expenditure form, completing all your incomings and outgoings. Make sure you have your recent bank statements and any credit card bills to hand. Include all the interest rates you’re being charged as well.

2) Prioritise your debts

Debts such as your mortgage, any loan secured against your home, any HRMC charges or Utility bills such as water, gas & electric, should be considered as priority debts and always get paid first.

3) See if you can move existing debts with expensive interest rates to lower rate credit cards or personal loan.

Once you've worked out which debts are costing you the most, consider transferring any high-interest credit and store cards to lower interest credit cards or a personal loan. Make sure you watch out for any balance transfer fees with credit cards. 

4) Talk to your creditors

Most importantly, talk to us. We understand that calling us can be daunting, especially when facing difficult times and financial worries. By calling us we can listen and understand your financial situation, and help you put an action plan in place.

Don't worry if you haven't got all this information to hand. The most important step is making that first call.

Information to have to hand
  • Your sort code and account number
  • Some details about your account, such as monthly instalment amounts or dates of your direct debits
  • Your completed income and expenditure form, or bank statements so we can complete one on the call with you
  • Time. Set aside some time for this call. We want to ensure we discuss all the possible solutions with you
Who to call?

If you’re struggling but are currently managing to maintain your payments please give our customer support unit a call on;

Current account, personal loans or credit cards - 0345 609 9283

Or if you have a mortgage with us - 0345 835 5404

If you’ve already missed a payment, don’t worry, our payment assistance team will be able to support you on the numbers below.

Mortgages - 0345 835 5404
Personal loans - 0345 600 8973
Credit cards - 0345 600 8972
Current accounts - 0345 600 8973

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