Often we speak to people who have been worrying about debt for a long time before they took the decision to get in touch with our debt advice charity. The typical person worries about their debt for a year before taking action and seeking advice.
It's normal and understandable for people in debt to choose to hide letters away in a drawer, stop answering phone calls, avoid friends and family and feel isolated, but there are things you can do to help alleviate the stress from debt.
What To Do When Worrying About Debt
We frequently hear from people who tell us the fear of being in debt and being unable to manage debts are left them feeling powerless, afraid and worried for the future. It may seem like the only answer is to ignore the problem, but that in turn only heightens the anxiety and worry. This can lead to people being unable to sleep or function efficiently in daily life.
If debt is the first thing you think about in the morning and the last thing you think about before you go to sleep, then you're not alone.
As frightening as it can be dealing with debt, it's the best solution to resolve the worry and anxiety. Our top tips if you're worried about debt, are to:
- Take a moment to just realise that debt impacts on a lot more people than you may realise. Debt is a problem, but that doesn't mean there aren't solutions to the problem. Often people have two or three different solutions which can help them become debt free again.
- Gather together your paperwork, find out how much debt you have and face it head on. This can often sound very easy, which it isn't, but doing this means you're in control again. This empowers you to know that you're taking the necessary steps to get your debt problem rectified. You may find that you owe less than you thought or it may be that you owe more, but either way you will be in a far better position to find a solution to your debt problem.
- Don't be afraid to talk to friends and family about your debt, it might just surprise you how many people you know who have been in the same position and you could gain strength in listening to how they dealt with it. Even if they haven't been in debt, a problem shared is a problem halved.
- Complete an income and expenditure, this will tell you how much money you have left each month to pay towards the debt or it may highlight areas of spend which could be reduced.
- Call a debt advice organisation and let an adviser go through the various options and debt solutions that are available to you. In some cases a debt solution may not be require but it's always best to find out the opinion of a debt advice expert. Again, just speaking to someone confidentially can unburden you. The people we help often comment the next day after speaking to an adviser that they "had the best sleep of their life" after speaking to our charity advice team for support.
You Can Be Debt Free
It may seem like your situation is unique and difficult, that no one will have an answer, but the truth is, you can be debt free.
By taking the brave step to face your debt problems head on, you can start to plan for your future again, one which isn't dominated by fear of bills or creditor statements coming through your letter box.
If you would like to speak with someone about debt worries then please don't hesitate to contact one of our friendly advisors on 0800 085 0226 or even complete our online debt test to check which options may be suitable for you.