Customers in Financial Difficulty
Lines are open between 8am and 8pm Monday to Friday and between 9am and 5pm on Saturdays and Sundays, except for bank holidays or other holidays in Northern Ireland when the bank is not open for business.
We understand that customers may find themselves in financial difficulty for a wide variety of reasons.
We aim to help customers who may find themselves in financial difficulty and it is important that a customer who is in a position of financial difficulty seeks help as soon as possible.
What should you do?
- Don't ignore your debt problem – it could affect your credit rating. Companies can check your credit rating to see if you have a poor credit history whatever you want to borrow money for.
- Act fast - as soon as you think you may have a debt problem contact your creditors to discuss your debt. For example they may lengthen the term of your debts to enable payments to be reduced. However creditors are not required to accept reduced payments, although they will be more likely to be receptive if you are trying to get on top of your debt problems. An escalation of the problem is in no-one's interest. Danske Bank are committed to consider cases of financial difficulty sympathetically and positively. Contact your Danske Bank branch as soon as possible even if you are not in financial difficulty at the moment but think you may be soon.
- Avoid missing repayments - missing repayments can adversely affect your ability to get credit and you may end up being unable to buy goods on credit or get a mortgage in the future.
What we will do
Where we see frequent use of your overdraft, which may result in high avoidable charges, we may contact you and to discuss options that could help you manage your overdraft more effectively in the future.
We will deal with cases of financial difficulty sympathetically and positively.
If we assess that you may be in financial difficulty we will contact you at an early stage to discuss your problem, both in writing and, where possible, by phone, so that together we can agree how we can help you. It is important that you do not wait for us to contact you, you should contact us as soon as possible as you will probably be aware of the difficulties before us.
We will try to arrange a new payment plan with you taking your financial circumstances into account.
We will give you reasonable time to pay back any missing payments. If your loan is secured on your home we will only start repossession proceedings as a last resort when all other reasonable options have been exhausted.
We will give you details of organisations who can give you debt advice (for example, Citizens Advice Bureau), and we will talk to them if you want us to.
How we might be able to help you
We may allow you to pay back your loan over a longer period of time. Although this would reduce your monthly payments, it would increase the overall cost of the loan.
We may also allow you to pay reduced payments or just the interest payments for a period of time. Although this would reduce your monthly payments, it would increase the overall cost of the loan.
We may be able to change the interest rate you pay, the way you make your payments or the date you make them during the month.
We would hope to be able to agree an appropriate arrangement with you. If we can do this we will explain how it would work and give you time to consider it. If we cannot offer any of these options, we will tell you why.
Other things to consider
It is important that you keep to the payment plan we agree with you, or tell us if there is a change in your circumstances which may affect the arrangement. If you do not make the agreed payments, we might have to resort to legal action to get back any money you owe us. This could include taking legal action to repossess your property.
Check whether you can get any state benefits or tax credits which could help to increase your income.
If you have a payment protection or income protection policy you should check whether it would help with your payments.
Talk to a professional adviser, such as a debt counsellor or a lawyer, before you commit to any repayment plan so that you understand what you are agreeing to. We strongly advise that you seek independent, free, debt advice.
Costs and Expenses
If you are in arrears, we may charge you for reasonable costs and expenses. Please see our Fees and Service Charges Explained leaflet for further details.
How to complain
We are committed to providing a high standard of customer service. If you are not satisfied with any part of our service, we have procedures in place to deal with your concerns effectively and in the correct way. However if, having followed our published complaint procedures, you disagree with the final decision we have made, you can refer the matter to the Financial Ombudsman Service. Details are available from us on request or from www.financial-ombudsman.org.uk.
It is important that you contact us as early as possible and remain in touch to give us the best opportunity to help you. We operate a dedicated phone line for customers in financial difficulty: 0800 633 5783 (or +4428 90049561 from outside the UK). Advise us as soon as possible if you move to a new address.
You may also contact us using links below:
Other Useful contacts
UK finance have produced a dealing with debt leaflet.
Citizens Advice Bureau
To find the phone number of your local bureau, look in the phone book, visit your local library or information centre, or use the website www.citizensadvice.org.uk
Step Change Debt Charity
Step Change Debt Charity is a registered charity offering free, confidential advice and support to anyone who is worried about debt. Call free on 0800 138 1111, or visit www.stepchange.org
Payplan is funded through donations from the credit industry, but remains impartial and deals with all creditors. Call free on 0800 280 2816, or visit www.payplan.com
Advice NI, a registered charity, exists to provide leadership and services to organisations, to ensure accessible advice services across Northern Ireland, and to deliver a range of advice services to the public including Debt and Money, Tax and Benefits, and Business Debt. Visit AdviceNI , or:
- Business Debt: 0800 083 8018
- Money and Debt: 0800 028 1881
- Tax and Benefits: 0800 988 2377
- Welfare Changes: 0808 802 0020
Monday- Friday 9am-5pm
Housing Rights Service (HRS) - NIE advice document for those experiencing difficulties with mortgage payments. HRS Mortgage Booklet
The National Debtline
This is a national telephone helpline for people struggling with debt. National Debtline can also send you a free debt advice pack, with guidance on completing a personal budget to legal questions connected with debt. Call National Debtline on 0808 808 4000, 9am to 8pm Monday to Friday and 9.30am to 1pm Saturday or go to the national debtline website.
Financial Conduct Authority This organisation along with the Prudential Regulation Authority regulates the financial services industry in the UK. It can offer impartial information to all consumers.
Visit the Financial Conduct Authority website or try their Consumer Helpline on 0800 1116768, between 8am and 6pm, Monday to Friday (except public holidays) and 9am to 1pm Saturday or Text reply (18001) 0207 066 1000.
Money Advice Service
The Money Advice Service have a range of leaflets to give impartial information about financial products.
Call charges may vary. Please refer to your service provider.