Thamesbank is here to listen and we may even be able to help you.
At Thamesbank we recognise that increasing inflation, rising gas and electricity costs and soaring petrol prices are all putting a strain on your finances. There may be also sudden financial needs like bereavement, a wedding, a new baby, etc. We understand there are many causes of financial distress and we are here to assist you in any way we can.
Unfortunately, being a Credit Union, we are not authorised or regulated to provide specific, personal financial advice. This expertise is provided by IFAs (Independent Financial Advisers) and other specialists as recommended by CAB and others. Therefore, we would encourage those borrowers, who are beginning to feel the financial strain to contact their local Citizens Advice Bureau or the debt charity StepChange as they can offer you some free advice or recommend you to a specialist.
If you are a Thamesbank borrower and you are now experiencing difficulty in meeting your monthly repayments please contact us immediately rather than do nothing. Pretending that the problem will go away if you do nothing is not a sensible way forward – instead please be proactive and contact us through Credit Union Solutions on 020 8756 3865 or email@example.com. We will then be able to discuss with you how we can help you by considering the issue, amounts involved, loan terms and other aspects. Each case will be different and will require a different solution. However, we can only do this if you contact us. We really want to assist all of our borrowers with problems. In the vast majority of cases, we are able to make the necessary adjustments and resolve the problem.
However, our duty is to protect all our members. Therefore, you should be aware that should your loan repayments fall behind their due dates (arrears) and we have not been contacted or cannot reach you, we may commence legal proceedings against you to recover the sums outstanding. Initially, we shall try to contact you and send letters asking you to contact us, but should these be ignored we will commence legal proceedings which can result in a County Court Judgement against you. This could affect your credit rating and your ability to borrow in the future. It could also make any future borrowing more expensive.
In order to avoid the trouble and distress that this would cause, we urge you to contact us and speak to us early, as we are ready and willing to assist you.