Living with a reduced income

Has your income recently gone down?

When John lost his job, he faced a reality he wasn’t expecting – he needed to support his family and had unpaid bills. Learn how we helped.

John’s story

John had always had a steady job, so he’d never worried about the possibility of being out of work and being left in a difficult financial situation.

But when he lost his job, he had to find a new job but on a lower salary. Due to his lower income he was struggling to support his family, pay his bills and keep up with his mortgage payments.

The weeks went by and more and more bills were going unpaid. John had also taken out a small payday loan and his next mortgage payment was due. Everything was building up and he felt stressed by the situation.

How we helped

  • John called us and spoke to Simone. She was friendly and non-judgemental
  • After talking with John about his income and outgoings, Simone went through the available options. She arranged a repayment plan John could afford and would reduce the pressure on his finances
  • Simone told John before he agreed to the repayment plan that it would be reported to the Credit Reference Agencies, and that it could affect his ability to obtain credit in the future. However, entering into the repayment plan would be better for John than continuing to miss payments
  • Simone also showed John how to manage his money by setting up Text Alerts for his Barclays current account, and explained the benefits of keeping track of his money in Barclays Mobile Banking and Online Banking

 

Does your situation sound like John’s?

Have you had to take a pay cut for a new job? Have you had an accident and been off work for a long time?

We can help. As soon as you feel like you might be in financial difficulty, give us a call. Calling us won’t make anything worse.

To prepare for the call, it’ll be best if you have your sort code, account number and some information about your monthly income and outgoings ready. You might be talking for a while, as the adviser will want to understand your situation in detail, so make sure you set aside some time.

If you haven’t missed a payment but are worried about your finances, you may want to call the numbers below.

  • Mortgages – 0800 022 4022. Lines are open Monday to Friday, 8.30am to 5.30pm and Saturday 9am to 1pm
  • Barclaycard – 0800 046 8324. Lines are open every day from 9am to 9pm
  • Overdraft and Barclayloan – 0345 600 4545. Lines are open Monday to Sunday, 8am to 9pm
  • Premier – 08009 247 365. Lines are open 24 hours a day, 7 days a week

Call charges

If you’ve missed a payment, we’ll contact you soon to discuss your options. But if you’d like to speak to us in the meantime, please call 0345 734 5345. Lines are open Monday to Sunday, 7am to 11pm.

If you have debt with multiple creditors, you should contact StepChange or National Debtline for guidance and support.

Self-employed or have a business? Get assistance here.

There are other services that offer free support

For more guidance, find your nearest branch.

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