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There is no shame in debt

Published on:January 18, 2021Author:Emma Hartley

It’s 2021, and we have been living through a global pandemic for the past 10 months. Millions of people becoming seriously ill, many losing their lives, even more losing their livelihoods, businesses and homes.

AND STILL, people do not want to open up and speak to their closest friends and family about their struggles with DEBT.


Why as a society do we feel ashamed to admit that we are struggling with our finances?

There has been a lot of publication and coverage in recent years, and rightly so, about opening up about mental health, so why not debt? Debt can be a huge factor when it comes to stress, anxiety and poor mental health, so it is most certainly a topic we feel should be top of the list to open up about and get the help that you deserve.

Many people worry that they may be judged, or that others would see them differently if they admitted to struggling with their finances and in turn this leaves them suffering alone feeling like they are failing whilst other people, on the surface, look as if they have everything under control.

Perhaps, the more people that decided that debt is not a dirty word, or a taboo subject, and openly discussed the struggles they faced, the easier it would be for others to ask for help when they needed it. In turn reducing the stress on peoples’ mental health for those having to deal with debts on their own in secret.

After all debt is credit that has become unaffordable and frequently this is caused by a life event such as divorce/separation or redundancy.

Lets make more of a conscious effort to talk about debt. You are not alone.

Even before the pandemic hit The Money Advice Service had estimated that 8.3 million people in the UK were over-indebted. And data from the Citizens Advice shows that roughly 6 million adults have fallen behind with at least one household bill during the pandemic.

If you are struggling with problematic debt, whether you have only recently began struggling due to a change in your circumstances or whether it has been a worry for some time, you are not the only one. You are not the first, you will not be the last and there is help out there.

Who can you reach out to?

Equifax reported that 1 in 7 adults hide the extent of their debt from their partner and 1 in 10 people do not believe that they will ever be debt free. If the prospect of speaking to anyone you know about your money or debt issues is beyond contemplation, it is important to know that there are organisations out there, including The Debt Advisor who are appropriately regulated who are willing to chat and provide advice.

If you are struggling with debt, The Debt Advisor can help advise you on how to better manage your finances or help you to deal with debts.

To speak to one of our advisors confidentially about debt solutions, you can call us directly on 0800 085 1825.

The Debt Advisor Ltd is authorised and regulated by The Financial Conduct Authority, number 659920. This means we are able to offer debt advice and deliver both formal and informal debt solutions. We hope that the information and debt advice on this site including Frequently Asked Questions  will help inform you.

There are sources of free debt advice and services. You can find out more by contacting the Money Advice Service on 0800 138 7777 or by visiting their website.