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
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
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
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.
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.