I’m experiencing financial difficulty and need to reduce my payments. What should I do?We are here to support you when things get difficult with your finances. It’s helpful if we can discuss your circumstances to work out what’s the best solution for you.
Depending on the product you wish to discuss, please view our contact us page and call customer services. One of our trained specialist advisors will discuss your circumstances with you, and together we will work out the best option based on the information you tell us.
Alternatively you can write to us at Tesco Bank, PO Box 342, Newcastle Upon Tyne, NE12 2GD.
We will usually complete a budgeting form with you to understand your financial circumstances. This is a list of all of your incomings and outgoings. It is helpful to have an idea of these before you call us to make things easier. The best way to do this is to go through some recent bank statements and bills. We will complete the form to show all of the money you have coming in and everything you need to pay out each month. We will also include any other creditors that you have in this.
If you want to look at this or complete it before you call us you can visit Budgeting tool (Stepchange/Money Advice)
When we have completed the form we will then have an idea of your affordability and what you can realistically afford to pay towards your product with us each month.
You can also contact free Debt Advice Charities for some impartial debt advice.
Links to Third Party Advice.
Citizens Advice Bureaux
Money Advice Scotland
StepChange Debt Charity
The Insolvency Service
This answer specifically relates to Tesco Bank Current Accounts, Credit Cards and Loans.Was this article useful?
Still got questions?
- I would like someone else to be able to deal with my account, what do I need to do?
- I have missed a payment - what should I do?
- I’m experiencing financial difficulty and need to reduce my payments. What should I do?
- I have received a letter telling me I’ve been charged a Default Sum on my Credit Card. What does this mean?
© 2022 Tescobank.com All rights reserved