Credit: Getting support
CreditLearn where to find free, confidential debt support and why reaching out early can help your finances and wellbeing.
Transcript
Dealing with debt can feel isolating. Remember that you’re not alone. There is no need to be ashamed. Debt is more common than you think. Millions of people across the country face these financial challenges every day.
Keeping financial worries to yourself can take a toll on your mental health. Reaching out for support and guidance is vital – not only for your finances, but your overall wellbeing. Speak to someone who understands your situation and won’t judge you.
There are a number of organisations that offer free and confidential advice. Be wary of companies offering you debt write-offs or something called an IVA.
You should always get impartial, regulated debt advice before agreeing to anything like this, as it can have a lasting negative impact on your financial life. Creating a personal budget is a good first step.
You can start by writing down what is coming in and what is going out. You can use our other videos on budgeting to make a plan. Remember, you’re not alone. Support is out there and even small steps can make a big difference.
Docs, Links & Resources
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Debt
Debt: Factors to consider
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Debt: Needs vs wants
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Debt: Choosing your lender
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Debt: How borrowing works
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Debt: Priority debts
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Debt: Making a plan
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Debt: Seeking support
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