At Glasgow Credit Union , we understand that life doesn’t always go to plan. If you're experiencing financial difficulties or think you might struggle to make a payment on your loan, mortgage, or any other financial commitment, it’s important to know that you are not alone — and support is available.
Contact Us Early
If you’re having trouble making repayments, the most important step you can take is to contact us as early as possible. The sooner we know, the more options we’ll have available to help.
You can reach our Support Team via:
- Raise a support request
- Phone
- Secure messaging in the Mobile App
What Happens When You Tell Us?
When you tell you're having difficulties, we’ll:
- Review your circumstances with understanding and discretion
- Look at your current repayment arrangements
- Discuss available support options, which may include:
- Short-term payment plans
- Temporary reductions or payment pauses
- Budgeting support or referrals to free financial advice services
Our aim is always to work with you to find a personalise solution that fits your circumstances.
Will It Affect My Credit Record?
If you fall behind on repayments and don’t inform us, it may impact your credit record. However, if you contact us early and reach an arrangement, we can sometimes reduce the potential impact and help avoid more serious consequences like default or legal action.
What About My Savings?
All Glasgow Credit Union loans are secured against your Member Savings Account. If you do not maintain repayments:
- We reserve the right to offset your loan using your savings.
- We’ll only do this in line with our terms and conditions and used as a last resort when other options have been explored.
Struggling with More Than One Debt?
If you’re facing broader financial difficulty, we encourage you to contact free and independent debt advice services, such as:
- StepChange (www.stepchange.org)
- National Debtline (www.nationaldebtline.org.uk)
- Citizens Advice (www.citizensadvice.org.uk)
These services can help you manage your money and explore debt solutions.
Don’t Ignore the Problem
Missing payments can lead to:
- Extra fees or charges
- Difficulties obtaining further credit
- Legal action or recovery proceedings (in extreme cases)
Reaching out for help ensures you stay in control and avoid these outcomes wherever possible.
We're Here to Help
Unexpected financial difficulties can happen to anyone at any time. We’re committed to supporting our members when this happens. If you need help managing your repayments, contact us today — we’ll listen, we’ll understand, and we’ll work with you to find a solution.