Support through difficult times

Bank of Scotland is committed to helping customers find a way forward if they are experiencing financial difficulty.

We want your business to be successful. However, there may be times throughout your business lifecycle when you need extra support. Our approach is to work with you and your business to ensure long term success.

We encourage you to contact us as soon as possible if there’s a problem and we’ll deal with any financial difficulty sympathetically and positively.

We would normally regard a customer to be in financial difficulty when a business cannot meet or has difficulty paying off its financial obligations. This may occur due to a number of factors such as a decrease in turnover, or debtors not making timely payments making it difficult to pay creditors and other financial commitments.

We understand our customers may face a range of different problems but most of these will impact on revenue and short-term cash flow requirements. Confronting these obstacles at the first sign of difficulty can help to prevent them from becoming a major issue for your business.


How we can help you during difficult times

We will do all that we can to help you overcome any difficulties and will work with you in reviewing your financial situation.

We will:

  • Discuss any difficulties you are experiencing in meeting any financial obligations
  • Work with you to assess your repayment capability taking into account what you owe other creditors and reviewing your priority payments
  • Develop a plan with you to help you move out of financial difficulty

If you wish to speak to someone, please call our business management team on 0345 300 0268, or contact your named Relationship Manager.


External support

Business Debtline

The Business Debtline provides free, confidential and independent advice on how to deal with debt problems. The website has a number of self help factsheets and cash flow spreadsheets.

Citizens Advice Bureau (CAB)

The CAB provides free, confidential, impartial information and advice on a wide range of debt and benefits issues, face to face. Check your local phone book or Yellow Pages for the nearest Citizens Advice Bureau, or visit the Citizens Advice website for your area.

Federation of Small Businesses (FSB)

The FSB is non-profit making organisation promoting and protecting the interests of the self-employed and owners of small firms by offering access to services which help you protect your business, can save you money and those that can help you look to grow your business.

Lending Standards Board

The role of the Lending Standards Board is to monitor and enforce the Lending Code and to ensure subscribers and their agents provide a fair deal to their personal and micro-enterprise borrowing customers.

Money Advice Service

The Money Advice Service has been set up by the government to provide free and impartial money advice in person, over the phone and online. They offer guides to help improve your finances along with tools and calculators to help you keep track and plan ahead.

National Enterprise Network

National Enterprise Network provides help and support for new, small and growing businesses in England, with a particular emphasis on start-ups and micro businesses.

The British Bankers Association (BBA)

The BBA is the leading trade association for the UK banking sector with their core priorities in helping customers both consumers and business, promoting growth and raising standards. Providing information on the current economy and providing a variety of training workshops and events.

The Insolvency Service

The Insolvency Service is the government online resource to provide guidance on personal and company insolvency.

Emergency support plan

Take 10 minutes to plan how your business can prepare for, respond to and recover from emergencies. The Business in the Community charity has produced a checklist to help businesses minimise disruption in the event of unforeseen circumstances, including flooding, cybercrime and terrorism. This plan provides a framework on how to manage these emergencies.

While all reasonable care has been taken to ensure that the information provided is correct, no liability is accepted by Bank of Scotland for any loss or damage caused to any person relying on any statement or omission. This is for information only and should not be relied upon as offering advice for any set of circumstances. Specific advice should always be sought in each instance.


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