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Debt, money worries and financial difficulties

If you're facing difficult times financially we encourage you to contact us directly and at an early stage.

The first thing to do is get in touch with us, the sooner the better – call 0345 301 4971* (or 0345 030 3188*  if you only have Insurance products with us). You’ll speak to a specialist advisor who will be sensitive to your specific situation. We’ve created a set of FAQs that talk through the most common scenarios.

We’ll help you work out what’s affordable by completing a budgeting form. This will document all your income and outgoings, including what you owe to any other creditors. You'll then get a true reflection of what your disposable income (what’s left after everything is paid) actually is and what you can realistically afford to pay.

StepChange Debt Charity

Alternatively you could talk to StepChange Debt Charity. They are a registered charity that offers free and impartial advice to those in financial difficulty. They provide a Debt Remedy tool that aims to provide you with a personalised solution to your financial difficulties in about 20 minutes. It's anonymous and free of charge. Alternatively you can call them free of charge on 0800 138 1111.

Helping you manage your money

Getting into debt can happen to anyone, and if you're having trouble managing what you owe it can be very stressful. If you're worried about your debts, there are a number of steps you can take to manage them.

Analyse your money

Keep a record of where your money goes each month – you may be surprised by how you're spending it. The best way to keep track of your money is to note down the amount you spend every time you go shopping. Getting into the habit of keeping a close eye on your spending habits will give you a good idea of where you can cut back.

Prioritise spending

The amount you spend can be split into categories, including:

  • monthly essentials, such as groceries, rent/mortgage payments, bills and transport
  • occasional necessities, such as clothing and toiletries
  • luxuries and treats, including meals out, holidays or entertainment items.

Draw up your list of essentials and compare this cost to your monthly income. The difference between the two is your disposable income. If you can afford to, factor in the luxuries that you really don’t want to do without, and then calculate what you have left over for savings or debt repayment.

Stick to a budget

Set a budget for yourself and stick to it. Get into the habit of checking your spending every month to make sure you don’t start to stray - small purchases can quickly mount up. This is one of the simplest ways to manage your money. If you need help putting your budget together, then the Money Advice Service has a free online planner that could help get you started. Remember to review your budget if your circumstances change.

Useful information

Mortgage arrears helpline: 0800 975 9558

Contact us - we're here to help

Remember, if you're facing difficult times financially we encourage you to contact us directly and at an early stage. You’ll speak to a specialist advisor who will be sensitive to your specific situation.

Call us on 0345 301 4971* (or 0345 030 3188* if you only have Insurance products with us).