Financial Difficulties

Help with your accounts if you are having financial difficulties

Please let us know if your circumstances have changed or you are financial difficulties and you think you may be unable to make your next payment. We are here to help and we will never charge extra added interest, late or missed payment fees.

What payment arrangements are available?

We can agree different payment arrangements with you depending on how you have been impacted by a change of current circumstances.

These payment arrangements may include:

  • A temporary short-term pause to payments when you are not currently able to make a payment
  • A short-term reduction in payments until your financial circumstances stabilise
  • Allowing you a reasonable time and opportunity to repay the account including deferment of payment of arrears
  • Accepting temporary token payments for a reasonable period
  • If your financial circumstances have changed, we can agree a reduction in your weekly payment to a level of payments you can afford sustainably until your circumstances improve.

We will regularly review payment arrangements with you and you can request a review of your arrangements at any time through your agent.

Will Mutual agree to my request for a payment arrangement?

Yes, if your ability to repay has been impacted, we will agree to a suitable payment arrangement which meets your individual circumstances.

How will a payment arrangement affect my credit file record?

We are required by regulations to report how you pay your account against the original payment terms on your credit file. If you are paying a reduced payment or no payment then this will show on your credit file when your account falls into arrears. We report the amount of arrears on your account as a monthly arrears’ status to the credit reference agencies, we do not report "missed payments".

Will I pay any extra interest or charges for a payment arrangement?

No, Mutual never add interest, fees or any extra charges so you will not end up paying anything extra on the cost of your credit because of a payment arrangement.

What do I need to do to request a payment arrangement?

If your ability to repay your account has been affected and you wish to request a payment arrangement then please;

  • Contact your agent to discuss your circumstances
  • Think about what you are able to afford to repay each week
  • Your agent is your main point of contact and is there to help you manage your account
  • If you cannot get hold of your agent, please ring your local branch
  • Your agent will review your account with you regularly and stay in contact with you during any payment arrangement.

What happens to the payments I missed or reduced under payment arrangement support?

You still need to make any missed or partial payments that were due while you were under payment arrangement support. You can repay the missed or partial payments by:

  • When you can, by paying extra each week to catchup the missed or partial payments; or
  • Returning to full payments when you can and repaying the missed amounts by repaying for longer than the original agreement duration; or
  • Continue to make payments of the reduced amount under the payment arrangement until the account is paid off by repaying for longer than the original agreement duration

Because no interest is added, you will not pay more in total cost by using any of these options.

Where can I find more information about Mutual support?

To find out more about the support which Mutual offers please;

  • Speak to your agent who is your main point of contact for managing your account
  • If you can't get in contact with your agent, please contact your local branch

Where can I receive further help and money guidance?

You can receive impartial and free help and money guidance from the Money Helper: and you can find sources of free debt advice at

You can find free and impartial debt advice help from the FCA’s information page:

Please let us know if you need printed information on where to find help.

Representative Example: £13.73 per week to borrow £500 over 51 weeks  |  Total amount payable £700  |  Representative 104.0% APR  |  Fixed rate of interest 104.0% p.a.