We are required to review our customers’ affordability every 12 months to ensure payment plan agreements continue to be fair and reasonable for both yourself and Tesco Bank.
Even if nothing has changed in your income, over a period of 12 months quite often your monthly expenses will change. We need to ensure the payments you have been making are still suitable.
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 have 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.