Social Stigma Stopping People Getting Debt Help

With the economic crisis causing more and more people to fall into debt, these perceived social stigmas are causing a number of repercussions. The findings indicate that a quarter of people (23%) take over a year to deal with their financial troubles. Meanwhile, the personal and emotional side-effects result in 59% always feeling worried and 40% believing their debt problem has stopped them being able to move on with their life.

Unsurprisingly the vast majority (91%) are paying off credit card debt, which can easily spiral out of control as credit limits are extended. Although it often takes only a short time to build up this debt, resolving it can again be a lengthy process. Eighty eight per cent of people in debt believe the impact on their credit rating is the biggest problem they face at the moment. And almost two thirds (63%) cite long-term credit issues as being the most frightening aspect of serious debt.

The UK is lucky as it has debt solutions that are accessible to all. These include free debt management, IVA's, bankruptcy and debt relief orders. There is no shame in asking for help, in fact the only shame is in not asking for help before it is too late.

• Don't lose sleep
• Don't keep getting late fees and charges
• Don't ignore phone calls and letters
• Talk About your Debt with a professional advisor that can make your debts affordable, keep your creditors off your back, and return your life back to normality

What are you waiting for?