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What to do when your income goes down

Because things change

When John lost his job, he faced a reality he wasn’t expecting – he needed to support his family and had unpaid bills. Read about how he worked on turning that around.

This story shows typical customer situations and how banks can help. You’re not alone – we’re here to help you.

John’s story

John always had a steady job, so he’d never worried about the possibility of being out of work and being left in a challenging financial situation. When he lost his job, however, he had to find a new one, and ended up with a lower salary. The change in income meant that supporting his family, paying bills and making mortgage payments became a little more difficult.

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.

John’s next steps

  • John called his bank to explain his situation, one that’s more common than he may think and in most cases banks are more than prepared for
  • They worked together and created a repayment plan, so John could manage his day-to-day expenses while still making repayments. John was also introduced to his online banking, to help him keep on top of his finances
  • Before agreeing to the monthly repayment plan, John would’ve been notified that it would be reported to Credit Reference Agencies, and that it could affect his ability to get credit in the future. However, entering into the repayment plan would be better for John than continuing to miss payments

Does your situation sound like John’s?

Help’s always at hand. As soon as you feel like you might go through some financial difficulties, give your bank a call – it could help make things better.

To prepare for the call, have some information about your financial situation ready, including your incomes and outgoings. You might be talking for a while, as your bank will want to understand your situation in detail, so make sure you set aside some time.

If you’re a Barclays customer, here are some numbers you can reach us from.

  • 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
  • Self-employed or have a business? Get some support.

Call charges

Free help and advice

If you’ve got more financial commitments than you can manage or have debt with other creditors, contact National Debtline or StepChange for free advice on the phone or online.

If you need to see somebody in person, contact Citizens Advice.

How close are you to a debt problem?

If you’re concerned about your finances, try StepChange Debt Charity’s 60-second debt test – a few simple questions will tell you if you need advice and where to get it.

These services can provide further help and support

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