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

If you’re worried about your finances and want to see where your money is going each month. Try completing our downloadable income and expenditure form.

Alternatively try the Stepchange Debt Remedy tool, in association with TSB for free online debt counselling, tailored to your individual needs.

Creating a debt management plan

Being in debt can be daunting. If you are concerned about managing your finances, putting together an action plan can help you get out of debt now and manage your finance in the future.

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How TSB can help you

As soon as you feel yourself struggling or worrying about how to manage your money, give us a call. Calling us will never make the situation worse. Our trained telephony partners are here to help you, when you need us the most.

To get the most out of your call with us, check out our call checklist. Don’t worry if you haven’t got all this information to hand. The most important step is making that first call.

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Third party advice and support

We understand making that first call can be difficult. Before speaking with us, you may find it helpful to discuss your situation with someone else first, especially if you have multiple creditors. For free, independent and confidential money advice, please see below.

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Creating a debt management plan Press to expand/collapse

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.

Call checklist Press to expand/collapse

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