Worried about my overdraft

If you have an unarranged overdrawn balance that you can’t repay, this will need to be discussed before you can continue using your current account.

We will always try to help you. We might be able to arrange a payment plan with you to repay your debt and if we do the period of the plan will be personalised based on what you can afford to pay.

If we make a payment plan with you and you keep up with the agreed payments, we won’t add any further charges or interest to your debt.

The first, and most important step to take, is to contact us as soon as possible if you realise your current account is overdrawn beyond your arranged limit, or if you’re overdrawn without an arranged overdraft and you can’t repay the debt.

If you think you’re going to have financial difficulty in the future, you can call us or seek independent advice.

Contacting the Cumberland for advice about your current account will not impact your credit file.

Here are some of the ways we will be able to help you:

• Provide you with reasonable time to pay back the debt
• Complete a budget planner with you to help understand your financial position better
• Arrange a payment plan with you
• Change the date you make any regular payments from your account, such as Standing Orders or Internal Transfers (you will need to contact your providers to make changes to any Direct Debits)
• Liaise with an agency who provides debt advice, like the Citizens Advice, if you ask us to

For more information contact the Arrears Management team.