At Debt Support Trust, our advice team know all too well that
debt happens for a variety of reasons and that's what's important
is getting the correct advice and a plan in place to once again be
debt free. The plan could be to negotiate with creditors, which we
can help with, or a solution whereby you repay what you can
reasonably afford each month. There are positives and negatives to
every debt solution, but if you're finding that debt is continuing
to grow, and the situation isn't getting easier or better, then
speaking to someone can often be helpful.
Debt Support Trust's charity money advisers are available on
0800 085 0226.
Debt Problems Are Uncontrollable
Society tells us that credit is good, but debt is bad. In
truth, they are the same thing. Your credit score reflects how
creditworthy you are, so when you apply for finance for a car or
perhaps are applying for a mortgage, you want a good credit score
so you're accepted and can get the best rate of interest.
Ultimately, to improve your credit score you need to borrow money
and repay the contractual amounts on time.
Debt problems occur when contractual credit agreements are no
longer manageable. The reasons debt situations can arise vary, but
often it's linked to loss of income, separation or divorce, an
over-reliance on credit or an increased cost of living. For
instance, a £400 per month repayment to debts could be affordable,
however there's a loss of income then it can be very difficult to
make the payments. For other people it may be that the debt was
manageable with interest free periods, however when these ended the
monthly payments increased and became unaffordable.
When a debt problem continues to grow and the amount owed
isn't getting better then the best advice is to ask for
professional debt advice.
Talking about debt and money worries can help. When we speak
to people struggling to manage debt, they often explain that they
didn't mean for the situation to get out of control and that if
they could go back they would do things differently.
Seeking Debt Advice
Making the first phone call is always the hardest, but we aim to
make it as friendly and supportive as possible. Our objective is to
ensure you have every available option to consider and more
importantly someone who will listen, understand and offer useful
If you would like to speak to a debt adviser you can call 0800
085 0226 or send us an email (firstname.lastname@example.org
) with your name
and telephone number and we'll arrange to contact you back. We're
happy to give advice over the telephone or via email.