Helping our customers through difficult times.

At different life stages your family budget can come under strain. The most important step is to acknowledge your financial situation, and seek advice as quickly as possible.

Step by step process to managing your borrowings

 

Step 1 - Review your finances

Setting out your monthly income and outgoings is the first step towards improving your financial situation. You can use our Family Finance Budgeting Tool to help you get a clear picture of where your money is going and any changes you need to make.


Step 2 – Take action

Once you have a clear and realistic picture of your financial situation, you may be able to take action to make immediate improvements.

 

Manage your spending:

  • Keep a ‘spend diary’ for the month. You may be surprised at how some small regular items can add up to a substantial monthly amount. If they’re optional, you could save that amount by cutting back here.
  • Maximise your income
  • Check that you are getting all the tax credits and reliefs to which you are entitled.
  • Explore other ways of bringing in additional income, for example renting out a room or taking on a part-time job.

 

Step 3 - Get in touch

The sooner you talk to us the easier it will be for us to find a solution to your financial difficulty. Simply get in touch with us and we will arrange for an experienced adviser to talk to you in confidence.

What we can do to help

There are various ways we can work with you to try to find a solution to your financial difficulty and help you manage your debts with First Trust Bank. If you have loans with other banks or financial institutions you will need to speak to them directly. Every person's case is different but to give you an idea of potential solutions, here are a number of options we can explore:

 

  • Consolidating your First Trust Bank personal debts into one loan (personal loan, credit card debt, overdraft can all be combined)
  • Extending the term of your existing First Trust loan(s) to help your cash-flow
  • Moving to interest-only payments for a period to help you get back on your feet
  • Repayment break (usually 3-6 months) - deferring payments until your situation improves

 

However, flexible repayment options may appear cheaper in the short-term but could be more expensive over the life of the loan and are subject to approval. Do remember that the sooner you speak to us about your financial difficulty, the easier it will be for us to work with you on a satisfactory resolution.

 

The Bank will, at your request, work with money advisers, debt management companies and organisations who give free money advice (such as Citizens Advice Bureau).

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Useful contacts

If you have further questions about financial difficulties, you can get information and advice from the sources below:

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    Money Advice Service

    Money Advice Service is an independent service set up by the government to help you work out what’s right for you.  They give free, unbiased advice online, on webchat, over the phone or face to face.

     

    Phone:  0300 500 5000

    Email:  enquiries@moneyadviceservice.org.uk

    Visit:  www.moneyadviceservice.org.uk

     

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    Citizens Advice Bureau (CAB)

    There are a number of ways that CAB advisers can help.  Advisers do not tell clients what to do, but explain their options and possible outcomes of different courses of action.

     

    Phone:  028 9023 6522

    Visit:  www.adviceguide.org.uk

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    Financial Conduct Authority (FCA)

    The Financial Conduct Authority (FCA) regulates firms and individuals that are involved in advising on, arranging or managing home finance which includes mortgages.

     

    Phone:  0800 111 6768

    Email:  consumer.queries@fca.org.uk

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    HM Revenue & Customs

    This number will provide you with information on all tax credits and benefits you may be entitled to.

     

    Phone:  0345 300 3900

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    Financial Ombudsman Service

    The Financial Ombudsman Service can step in if you’ve made a complaint to a financial business, but you’re not satisfied with the way things have turned out.

     

    Phone:  0800 023 4567

    Fax:  020 7964 1001

    Email:  complaint.info@financial-ombudsman.org.uk

     

    Visit:  www.financial-ombudsman.org.uk

     

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Downloads

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    Struggling with mortgage payments brochure

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    Dealing with debt leaflet

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    Mortgage income and expenditure form

     

    The information provided in the Income and Expenditure form is vital in helping both First Trust Bank and our customers to understand their current financial situation.

     

    This form identifies your current income, your living expenses plus other expenditure and financial commitments that you may have.

     

    Completing the form

    When preparing to complete this form, we recommend that you gather all your relevant information and documentation together (for example, bills, statements, pay-slips etc.) so that you have everything to hand.

    All sections of the form must be completed. If a section does not apply to you, please note this on the form by crossing it out or writing in 'N/A'.

    All borrowers named on the loan account must complete their information and all borrowers must submit the required supporting documentation outlined below.

    Should you need any assistance in completing this form, please call us on 028 9082 1682

     

    Supporting documentation required

    We require you to provide the below documentation along with your Income and Expenditure form, please note we assess each case on an individual basis and may request additional information from you:

     

    If you are a PAYE worker

    If you are self-employed

    If you are unemployed

    Completed Income and Expenditure form

    Completed Income and Expenditure form

    Completed Income and Expenditure form

    Last 3 months current account bank statements

    Last 3 months current account bank statements

    Last 3 months current account bank statements

    Last 3 months payslips and P60

    Last 3 years audited accounts

    Latest DSS ‘Award’ letter

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