Hey everyone,
Let's talk about something real: the financial fallout from COVID-19 and the cost of living crisis & inflation. Many of us have been slammed with job losses, reduced income, and unexpected expenses, loans and bounce back loan interest . It's no surprise if you're struggling with debt, feeling overwhelmed, or even scared.
But here's the thing: you don't have to go through this alone.
I know facing your debt can be terrifying. Trust me, I've been there. But hiding from it won't make it disappear. The good news is there's fantastic help available from charities like StepChange.
Why StepChange?
StepChange is a debt-free charity dedicated to helping people in the UK manage, reduce, and even eliminate their debt. They offer free, confidential advice and support, tailored to your specific situation.
Here's what they can do for you:
- Work out a plan: They'll help you create a realistic budget and explore options to manage your debt, like debt consolidation or Individual Voluntary Arrangements (IVAs).
- Talk to creditors: They can negotiate with creditors on your behalf to lower interest rates or stop collection calls.
- Emotional support: They understand the stress of debt and can offer support and guidance throughout the process.
Facing Your Fears
Taking that first step and reaching out can feel daunting. But remember, StepChange is there to help, not judge. Here are some tips:
- Acknowledge your situation: Accepting you have a problem is the first step to solving it.
- Gather your information: Have a list of your debts (amounts owed, interest rates) on hand.
- Take a deep breath: StepChange is here to support you, not shame you.
Remember, you're not alone. There is a way out, and StepChange can help you find it.
Here are some resources to get you started:
- StepChange: StepChange Debt Charity
- National Debtline: [National Debtline charity ON National Debtline nationaldebtline.org]
- Citizens Advice: [Citizens Advice Citizens Advice citizensadvice.org.uk]
If you are self employed - It’s slightly different - Step Change can really help you here. The budget sheet takes everything into account - every little thing from dry cleaning to pocket money for children. If your business is seasonal you can enter figures on a 3 month, 4 month or even a yearly basis to create a realistic “payment offering” that separates “Priority Debts - Tax etc” from non priority “loans, credit cards”
I am not familiar with any USA, CA or AU charities - if you do know any please feel free to share on this post.
