Mortgage payment breaks
Mortgage payment breaks and additional support on Isle of Man Bank Mortgages may be available to you if you anticipate not being able to make your payments.
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Dealing with difficulties
Struggling financially
We're here to help
We understand that sometimes people struggle financially. Bills can pile up and it’s difficult to make ends meet. It feels scary and you’re tempted to ignore the situation, hoping things will improve.
If you're worried about paying money back, your debt feels like a huge burden because you're spending more than you earn, you're struggling to pay your mortgage/rent/bills or several of your cards are at the maximum credit limit...it's time to ask for help.
Loan payment breaks
Loan payment breaks and additional support may be available to you on Isle of Man Bank loans, if you anticipate not being able to make your payments.
Things to consider before calling
It’s worth getting together some information before you call anyone to talk about your situation.
Most organisations will ask about your income, your household expenses, how much you owe and who you owe it to. If you decide to get further support from a debt charity or organisation, you might need to provide:
- Salary slips
- Evidence of tax credits or benefits
- Utility bills
- Evidence of other household expenditure
- Mortgage statements/rent details
- Bank statements
- More details about each of your debts
- Copies of any credit agreements you have
When should I ask for help?
If you can identify with any of these warning signs don’t delay, it’s time to ask for help.
You're worried about money and paying back what you owe
You're dealing with difficult circumstances which make it harder for you to manage your money
You're being contacted about unpaid bills and missed payments
Your cards are at the maximum credit limit
You're regularly spending more than you earn
You're struggling to pay your mortgage, rent, bills or minimum payments on credit cards
You can't manage your day to day spending without relying on your credit card
Get in touch
Our fully trained teams have lots of experience with financial difficulty, and we'll take time to understand your individual situation and discuss the options available to help you.
We'll need to get an accurate picture of your situation so please have a few details to hand:
Your monthly income (including any benefits, overtime, bonuses)
Your monthly household spending (including all of your bills and expenses)
The amount you owe
The number of organisations you owe money to
You'll find most of this information on your bank statements or by looking at your bank account online. If you don't bank with Isle of Man Bank, then call your bank as soon as you can.
If you give us authorisation, we're happy to talk to a relative, friend or debt counselling organisation about your accounts.
How to get in touch
If you have a Relationship Manager, please give them a call. If you don’t have a Relationship Manager, please call our Collections and Recoveries team:
Call us on 01624 646500
From abroad: +44 1624 646500
Calls may be recorded.