their debt problems for the first time. This means they have invaluable insight into what kind of things our clients tell them which might indicate that their debt problems are beginning to dominate their lives. Here are five signs that might suggest unmanageable debt is taking over:
If some of the points in this article resonate with you and you feel you might be in need of some help in managing your finances don’t panic – we are no more than a phone call away and are happy to shed some light on your specific situation.
- 1. Payday turns from exciting to stressful: Payday should be an exciting time of the month. You’ve been working hard, perhaps a bit more frugal over the last couple of weeks, and now you’re able to treat yourself again. If you are finding there is no money left over after paying your bills for anything exciting, then you may be in some trouble.
- 2. No money left over at the end of the month – If you find that you don’t have any money left after you have met all of your financial commitments then you may well be having debt trouble. If after paying your council tax, car payments, utility bills, mortgage and rent payments you are struggling to buy other necessities like food, or to put money away as savings, then it may be a sign you are in need of some help.
- 3. Relying on loans and help from friends/family to get by: If you are reliant on things like new high-interest credit cards, pay day loans, or even borrowing money from close friends and family, then your financial commitments are already outweighing your income. This is a vicious cycle. Borrowing to spend never works, and while it might seem like you are putting the problem off when you are finally forced to deal with it it’s going to be a lot worse.
- 4. Consistently meeting payments late: When debts are becoming a serious and unmanageable problem, constantly making late payments is a clear giveaway. If you often receive letters demanding payment, or cancel direct debits to pay when you actually have the money, then it may be time to consider reaching out for some extra support.
- 5. Having trouble sleeping: Our company has established a strong relationship with SAMH, Scotland’s leading mental health charity. It is becoming increasingly clear that poor mental health is often linked to unmanageable debt problems. If you find that debt-related stress is becoming unbearable, and keeping you up at night like many of the clients that we deal with every day, then it’s time to make a move and deal with your debt today. Money should never keep you from enjoying life.
If any of these points resonate you then it’s time to make a change. Our team is ready to help you take back control.
We know it isn’t easy to talk about debt, but our team is understanding and compassionate – you will find no judgment here, debt can affect anyone.