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Dealing with your finances
Nearly everyone has some kind of debt - a mortgage, credit card, loan or an overdraft. But if you are struggling to pay your bills and make ends meet then you should get help quickly.
If you're concerned about your debt, it's important to address the issue as soon as possible. That way, you can take positive action rather than just worrying about it and letting things get worse.
Get in touch
We're here for you
Before you call
It makes your call to us far more effective if you have to hand some important information.
- Your monthly income (including any benefits, overtime, bonuses)
- Your monthly household spending
- The amount you owe
- The number of organisations you owe money to
You should be able to find most of this information on your bank statements or by reviewing your online banking account.
What to expect when you call
When you call us we will take the time to understand your situation. We will talk through your income (including any Benefits you receive) and your expenditure (including all of your bills and outgoings). We will then talk to you about the options available to help you.
Getting help with your debts
Don't ignore your debts, especially if you've missed payments as this can affect your credit rating and you could incur additional charges. Talk to the people you owe money to, be honest and explain your situation. Most will be happy that you have contacted them and will work with you to create a repayment plan to suit you.
Avoid using a company that charges fees for help, as this will mean that it will take you longer to pay off your debts.
you can also get advice tailored to your situation from StepChange Debt Charity by completing an online questionnaire on their website. This service is free, you don't have to give your name and it only takes around 20 minutes to complete. Try the StepChange Debt Remedy online advice tool.
Understanding your debt
If you are worrying about slipping into debt, then using our useful tools to help you to set up a manageble budget and gain a better understanding of your financial position could make you feel more in control.
When you've looked at your budget and you have a better understanding of your debt, you can see how much you can afford to pay off each month.
Money Advice Service
The Money Advice Service, provides free impartial independent advice and information on how to manage your money better. Clicking on the links to the tools and guides below will take you to the Money Advice Service website where you will have access to all of their information.
Useful tools from the Money Advice Service
Using these useful tools from the Money Advice Service, you may be able to gain a better understanding of your finances, your debt and what you can afford to pay back.
Frequently asked questions
I've had a change of circumstance and now I have less money than I'm used to, how can you help?
You can use our Budget Calculator or Financial Checkup tool that can help you to budget your expenditure. Alternatively, you can either visit your local branch to speak with one of our Customer Advisors or contact us here to find some guidance and support.
I can't afford to pay my mortgage/rent and I think I may become homeless, who can help?
In the first instance, speak to your mortgage lender or landlord to discuss your situation. It may be you could take a payment holiday or reduce your payments for a short period of time.
If you are a NatWest customer, please refer to our 'What if I'm having trouble paying my mortgage' page.
Citizens Advice, Money Advice Service and Shelter can also help you with free independent advice.
What do I do if my account is in Collections or Recoveries?
I've had a big unexpected bill, what can I do?
If you are worried about making a payment due to an unexpected bill, please get in touch and we can walk you through the options available.
Will missing a payment affect my credit file?
If you miss a payment such as a direct debit or credit card repayment, it may be reported to the credit reference agencies, and may impact your ability to obtain credit in the future.
Can I change a Direct Debit payment date?
If the timing of your direct debit is making it difficult to make a payment when it is due, we may be able to change the date. Get in touch to find out more.