Dealing with debt, money worries and financial difficulties

When you’re worried about money it can feel like the weight of the world is on your shoulders. Although it might feel like you’re alone, you aren’t, and always remember that help is never far away.


31 Jul 2017

1. Make the call

If you’re struggling to meet monthly payments on anything – whether it’s your credit card, your car or your home – the first thing you need to do is get in touch with your provider and explain your situation.

Never ignore letters. They’ll keep coming, and what you owe will keep increasing. You could spare yourself a lot of unnecessary stress with just one phone call.

If you are experiencing difficulty repaying any of our cards or loans, you can call us on 0345 301 4971 - or if you are having difficulty repaying your Tesco Bank mortgage, you can speak with us on 0345 051 8446.

We’ll work with you to understand your individual situation and discuss your available options.

We’ll consider your individual financial position and discuss the options available to you. This could include some form of repayment plan or alternatively we can offer you a short term hold, known as breathing space, to give you time to review your finances or seek independent free debt advice.

Please note that these numbers may be included as part of any inclusive call minutes provided by your phone operator. Calls may be recorded.

2. Talk to a debt advisor

Talking to a professional can make the world of difference – and it’s free. They can help you make the right financial decisions, and perhaps even help you get debt-free quicker than you thought. They’ll also give you tools to help manage your money better in the future.

3. Prioritise your debts

Try to pay off as much as you can, when you can. You don’t have to wait until the bill comes in. Interest is usually calculated on a daily basis. Paying off multiple debts? Rank them in order of APR and pay as much as possible on the one with the highest APR first, while still paying what you need to on the others.

Lastly, as per the golden rule, if you can’t make a payment, talk to your lender right away.

4. Check your entitlements

When you’re caught up in how much you owe, it can be easy to overlook what’s owed to you. If you’re on a low income, on benefits or care for someone, make sure you’re getting what’s due to you.

The benefits homepage on is a good place to find out more about benefits you might be entitled to.

Charitable bodies such as Turn2us and EntitledTo have handy benefits calculators that can flag up any benefits or grants you might be entitled to. And remember, there are people out there who are always ready to help.

Tesco bank call centre colleague

We’ve created a set of FAQs that talk through the most common scenarios.

Important information

The content on this page aims to offer an informative introduction to the subject matter but does not constitute expert financial advice specific to your own situation. All facts and figures were correct at time of publication and were compiled using a range of sources.