You're not the only one
Money worries and mental health feed off each other. Debt can keep you awake at night, and when you’re low it gets harder to open the post or pick up the phone. A lot of men keep it quiet out of shame. You don’t have to. Free, confidential help exists, and the people who give it deal with this every day.
If it's urgent
If you’re facing eviction or repossession, your energy is about to be cut off, or bailiffs or enforcement agents are involved, get advice today. These are the things that can’t wait.
Advisers usually split debts into two kinds. Priority debts have the most serious consequences if they’re not paid, things like rent or mortgage, energy bills, council tax in the UK, and court fines. Non-priority debts include credit cards, overdrafts and loans. Deal with the priority ones first, even if other lenders are louder.
Free debt advice in the UK
- StepChange: free debt advice charity. 0800 138 1111 or stepchange.org.
- National Debtline: free, confidential debt advice. 0808 808 4000 or nationaldebtline.org.
- Citizens Advice: help with debt, benefits, housing and work. citizensadvice.org.uk.
- MoneyHelper: free, government-backed money guidance. moneyhelper.org.uk.
In England and Wales, a debt adviser may be able to get you into “Breathing Space”, a scheme that pauses most interest, charges and enforcement action for a while so you can get a plan in place. Ask an adviser if it applies to you.
Free advice in Ireland
- MABS: the free, confidential money advice and budgeting service. 0818 07 2000 or mabs.ie.
- Citizens Information: help with social welfare, housing, work and your rights. 0818 07 4000 or citizensinformation.ie.
Watch out for
- Companies that charge to sort your debts. Free advice is available, so you never need to pay someone to deal with your debts for you.
- Borrowing to pay off borrowing. Get advice first. It often makes things worse.
- Loan sharks. If someone is lending without paperwork, adding huge charges or threatening you, that’s illegal. Tell an adviser.
Talking to the people you owe
Ignoring letters usually makes things worse. Most lenders have teams for people in financial difficulty, and getting in touch early tends to give you more options. An adviser can do this with you, or tell you what to say.
When gambling is part of it
If gambling is behind the money problems, deal with both together. In the UK, the National Gambling Helpline is free on 0808 8020 133. Gamblers Anonymous runs free meetings in the UK and Ireland. Many banks also let you block gambling payments in their app, which can buy you some breathing room. More on recovery and meetings.