Can’t pay Bank of Scotland? What you can do
Behind with Bank of Scotland, or about to be? Here is what Bank of Scotland has to do when you are struggling, how to ask for help, and what happens if things go further.
Applies to: UK-wide
What to do now
- Contact Bank of Scotland before a payment is missed.
- Ask for a lower payment and frozen interest, in writing.
- Get free advice if you have several debts.
About Bank of Scotland
Bank of Scotland is part of Lloyds Banking Group.
Bank of Scotland appears on the FCA register (firm reference number 169628).
If you cannot pay Bank of Scotland
If your wages or benefits go into the account you are overdrawn on, the bank may use incoming money to reduce the overdraft. Consider opening a basic bank account elsewhere for your income, then ask the bank for a repayment plan and for charges and interest to be frozen.
Bank of Scotland’s own help page for customers in financial difficulty: https://www.bankofscotland.co.uk/money-worries.html.
FCA rules require lenders to treat customers in financial difficulty with forbearance and due consideration. That can mean reducing or suspending interest and charges, accepting lower payments for a period, or giving you time to get advice. Lenders do not have to agree to every request, but they must consider it.
What to do
- Contact Bank of Scotland before you miss a payment if you can.
- Work out what you can afford with the budget calculator.
- Put your offer in writing — the Letter Builder writes it for you.
- Ask for a 30-day hold while you get free advice if you need it.
- Keep a note of every call in the contact log.
If it goes further
If arrears build up, expect a notice of sums in arrears, then a default notice giving at least 14 days to put things right. After a default the account may be passed or sold to a debt collector. See the full timeline or find the collector in the debt collectors A–Z.
Complaining to Bank of Scotland
Complain to Bank of Scotland first. If you are not happy with its final response, or it has not replied within eight weeks, you can take the complaint to the free Financial Ombudsman Service — for example if the lender did not check you could afford the credit, or has not treated you fairly while you were struggling.
My Debt Cleared is not connected with Bank of Scotland. We are an independent information site and cannot see or change your account.
Sources for this page
You never have to pay for debt advice. MoneyHelper (government-backed), StepChange, National Debtline and Citizens Advice all give free, confidential advice with no obligation.
Common questions
What happens if I can't pay Bank of Scotland?
Missed payments will be reported to the credit reference agencies and charges may be added. If arrears continue, Bank of Scotland will usually send a default notice and may pass the debt to a collector or take court action. Contacting it early usually leads to better options.
Will Bank of Scotland freeze interest?
It may. Lenders must consider freezing or reducing interest and charges for customers in financial difficulty, but they do not have to agree. Ask in writing and include your budget.
How do I complain to Bank of Scotland?
Complain to Bank of Scotland first. If you are not happy with its final response, or it has not replied within eight weeks, you can go to the Financial Ombudsman Service, which is free.