Written by a volunteer at Debt Support Trust.
So many people, from all walks of life, find themselves in a position that they are fretting about the debt they owe on credit cards, personal loans, store card and to friends and family.
No longer is debt just a poor man's problem, but increasingly larger numbers of affluent families find themselves in a position that they are fretting about the debt they have acquired over the years.
For the middle aged group of today, they were brought up in the era off buy now pay later, where the majority bought their own homes and every second letter the post man brought offered you credit. There was never a need to save up for anything just put it on the credit card. Things were good, property rose at an alarming rate and for many if they required anything then to release the equity on your property was a relatively easy procedure.
I personally remember watching my own Grandmother (who lived through the depression) whenever she received anything nice she put it away in her bottom drawer "keeping it good for when she would need it". I never understood her logic and she died with a lovely bottom drawer, however looking back maybe she was wiser than the rest of us.
So many of us that have lived the good life on credit now find ourselves in a position that we are unable to reach the monthly repayments. This can be through no fault of our own but purely the effect of the economic climate. Some of us who had savings find they no longer gain interest. For others who had equity, they realise they are unable to sell their homes. Redundancy and ill health are all factors and when the marriage breaks down the financial strain can be enormous. With more and more teenagers going on to further education the financial impact lies within the parents to support them through what can be very expensive years.
Seeking Debt Help
So don't fret about debt are easy words, however when you find yourself unable to sleep at night it's not that simple. What I mean is worrying about a debt problem and not seeking help won't make the problem any easier. There are solutions to debt which you can benefit from such as a debt management plan, IVA or trust deed.
Nobody wants to ask for help nobody wants other peoples sympathy and most of all nobody wants to feel like a failure.
Our own personal belief in ourselves is after all one of the most important things we have. I write this from my own personal experience and stress you are not alone, there are many people who find themselves in this position.
The first thing you have to do is get debt advice. I would always recommend a not for profit charity such as Debt Support Trust or the citizens advice bureau for face to face advice.
I volunteer within Debt Support Trust two days a week, in the hope that I can give a little back to society. If you need debt help you can contact Debt Support Trust on 0800 085 0226 or complete a debt analyser form.