Ulster Bank is committed to helping our customers through the bad times as well as the good. We continuously look for innovative solutions to the challenges you, our customer, face. This site has been designed to provide practical guidance and support in response to the needs of consumers in financial difficulty.

Managing debt

Anyone can get into difficulty managing their debt. Changes in your circumstances such as; job loss, redundancy, reduced hours, reduction in salary, divorce, the death of a loved one, over borrowing, illness or a new baby; can put huge pressure on your finances. These can quickly result in missed loan or credit card repayments and mortgage arrears.

It's important not to ignore the situation or pretend it's not happening. There are solutions. With our help, taking control of your finances and getting back on track could be easier than you think.

Remember, the most important thing to do is talk to us if you feel debt is becoming a problem, so we can give you as much help as possible.

Here are some steps to take if you find yourself in financial difficulty:

• get free independent money advice from agencies such as:
  • Money Advice & Budgeting Service (MABS) - www.mabs.ie
  • Social Welfare agencies - www.welfare.ie
  • Citizens Information Board - www.citizensinformation.ie
  • Legal Aid Board - www.legalaidboard.ie
  • MABS & Citizens Information Board - www.keepingyourhome.ie
• work out a personal budget and stick to it.
• tackle your priority debts first, for example your mortgage and secured loans.
• make sure you claim all benefits and tax credits that you are entitled to. Contact your local community welfare officer or local citizens information centre for advice on what your individual entitlements are.
• if you have an income protection insurance policy, check to see if you can make a claim.
• you may also be able to claim on other protection policies, for example mortgage repayment protection insurance could be applicable in the case of redundancy.

• never ignore missed repayments, they won't go away. Remember, we're here to help, as soon as you notice there's a problem, get in touch.
• don't ignore correspondence or calls from our staff. We are here to help and talking to us is the first step to helping you get the situation under control.
• don't be under the impression that handing back your house keys will release you from your mortgage obligations, as this is not the case.