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If your account remains in persistent debt at month 36, you will have received a letter setting out your options.
Even if you pay off your persistent debt balance straight away, you will still need to contact us to select one of the options, because we need to make sure your account can't fall into persistent debt in the future.
Option 1
If you are able to pay off your debt in 4 years or less, and to make sure your account cannot fall into persistent debt again, we will make the following changes to your Terms and Conditions:
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We will change minimum payment requirements to introduce a new monthly payment. This will allow you to repay your persistent debt balance over four years
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We will also make changes to make sure that any future spend cannot fall into persistent debt by increasing the minimum payment required on any new transactions.
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If your current interest rate for cash withdrawals is different from the interest rate that applies to purchases, we will decrease your cash withdrawal rate so that it is the same as your purchase rate
If you are happy to accept these changes to your account then please complete the online form to tell us – link here*.
Option 2
If you would like us to make the changes in Option 1, but are concerned that you will be unable to afford the higher minimum monthly payment please call us on 0345 609 9283, selecting option 1, then option 2. We will discuss the help we can give you to make your monthly payments affordable.
Option 3
If you don’t want these changes to apply to your account, you can close your account by calling us on 0345 835 3846. You’ll no longer be able to use your card and will need to pay off your balance at the current interest rate(s) applying to your account. However, this is likely to mean you’ll pay it off less quickly and pay more interest overall, so we would encourage you to consider this carefully