Importance of debt advice and support if you are struggling

https://www.financialwellnessgroup.co.uk/blog/dealing-with-debt/

When it comes to taking control of your finances, one of the most important steps recognising when you might have problem debt. There’s no strict definition of problem debt. But here are some questions to ask yourself to help you decide if your debt is becoming a problem:

• Are you using balance transfer options and refinancing, rather than paying off your debt?
• Do you always seem to be making minimum payments?
• Are minimum payments taking up a large proportion of your expenditure?
• Have you got debts with collection agencies?
• Do you use credit to buy regular, everyday items?
• Does thinking about your debt or debt repayments leave you with a sinking feeling in the pit of your stomach?

If you answered yes to a few of those – especially the last one – then it may be time to get some debt advice.

That doesn’t necessarily mean you need to start a debt solution – simply chatting through your budget with a specialist, one-to-one, could make a world of difference. You can also access more information about our free debt advice here – including how to webchat with an adviser. Or, if you prefer, you can visit the Money Helper website to find sources of free debt advice.