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It’s the 10th anniversary of Debt Awareness Week (March 18 – March 24) this week!

Over the week, we’ll raise awareness of some common reasons people might not seek debt advice despite struggling financially and how they can overcome those barriers.

What is Debt Awareness Week?

Debt Awareness Week is an annual campaign – led and launched by debt advice providers StepChange – designed to encourage individuals and organisations to speak up about debt and act on it.

Debt is often seen as a taboo subject – although we are getting better about talking about it – and many don’t seek help through fear of embarrassment or the unknown. Not getting support causes financial problems to get worse, and this has longer-lasting damage to individuals’ livelihoods.

This year, the theme is barriers to getting debt advice.

What is debt advice?

We help people who have multiple debts.

Our aim is to reduce the amount you pay to your lenders and increase the money you have to spend on yourself and your family so you can live comfortably.

Our debt advice works in three simple steps:

  • Choose how to get help: You can speak to us via telephone, Live Chat or WhatsApp, whichever works best for you. 
  • Creating your budget: Make a new, simple budget that shows how much money you have coming and how much money you have going out each month
  • Get a solution that fits your situation: Using your budget, we’ll give you a solution that helps you deal with your unique needs and situation

Where can I get debt advice that I can trust?

We offer free, simple debt advice to anyone who needs it.

Not every plan will work (or be suitable) for your circumstances; the right debt solution for you will depend on what you want from your plan as well as factors such as your income and debt level.

Our TrustPilot, feefo and Google Reviews can give you an overview of our relationship with our clients – and if there’s anything else you’re unsure of, feel free to get in touch.

You’re not alone when it comes to feeling nervous or ashamed when it comes to making the first step of reaching out and asking for debt advice.

Kevin, one of our clients, was struggling to find ways of affording the most basic of needs. During one period, he bravely told us that he had to resort to eating frozen bread for tea every night and had suicidal thoughts. 

You can hear from Kevin and our other clients as part of our Debt Diaries series, where we tackle the stigmas around asking for debt advice.

I’m struggling with my mental health

Money and mental health are closely connected.

Poor mental health can mean that managing money is harder. Yet, worrying about money can worsen mental health. It can often feel like a catch-22 situation with no way out.

Mental health affects our emotions, thoughts, feelings and actions. It links to how we handle stress, relate to others and make choices – including our financial decisions.

We’re committed to helping you to get your finances under control and help you to feel confident about managing money. And we know it works. We know that once we’ve spoken to our clients, over 93% say their mental wellbeing improved and stress levels reduced.

How to spot signs of mental health issues

It can be difficult to spot if somebody is suffering with their mental health, but everyone can be aware of changes in a person’s mood or personality. While this list isn’t a diagnosis, you may notice a mental health sufferer:

  • Feels sad or down a lot of the time
  • Feels sad or down a lot of the time
  • Has extreme mood swings
  • Has extreme mood swings
  • Is frequently tired and lacking energy
  • Lacks composure with stress and everyday problems

Dealing with debt and mental health

If you’re in debt and are struggling with mental health, you may benefit from:

Breathing Space

Breathing Space can reduce or stop your creditors from calling you or sending letters chasing you for debts. Have a look at what Breathing Space could mean for you and how to request it.

Debt and mental health evidence form (DMHEF)

DMHEF can help creditors to understand any mental health issues you may be experiencing. It allows them to change the way they contact you or deal with your debts. Download and learn more about the form.

Personal Independence Payment & Employment and Support Allowance

Our benefits calculator will help you find out what benefits you can claim. The calculator is free to use, and the details you provide are anonymous.

If you need help or are concerned about your health, our debt and mental health guide could help you.

If you’re worried about your finances and need free debt advice, we can help. Contact us on 0800 316 1833 to get started or visit www.payplan.com