Problem debt is a problem not just because it’s debt, but because of everything that debt can imply. It’s not easy to deal with multiple creditors, to constantly pay fines and interest that come from the debt itself, and struggle to meet your daily living costs if everything is being subtracted from your paycheck.

One of the worst parts of all of this, however, is the tendency to bury your head in the sand when the problem seems insurmountable. We’re not suggesting you do this of course, only it’s a very understandable reaction for someone who may feel completely exasperated by their options. Doing so can make you feel worried, uncomfortable, and scared of the future.

Photo by Mikhail Nilov:

You likely know what the appropriate advice is in these circumstances – immediately reach out to a debt charity, try to consolidate, and see what support is available. All you need to take is that tiny first step and the rest will come. However, instead of being yet another post telling you what to do and why, which is generally just common sense, let’s be more empathetic. Let’s talk about the three understandable worries that stop you from addressing problem debt, and how to limit the emotional severity of such worries:

The Understandable Fear Of Judgement

It’s unbelievably common for people to worry that their financial situation will be met with criticism or judgment, because after all, you’re not supposed to get in debt, right? You’re certainly not supposed to have problem debt. Well, no, you’d be surprised how common this is, actually. Even people managing billion-dollar hedge funds have made major mistakes and had to close up shop.

While this fear of exposure and disapproval is absolutely an understandable obstacle to making that first call for many, and you might think that the person on the other end of the line will scold you for past spending decisions or question their ability to handle money, remember that debt charities exist to support people, not to accuse them. Their advisors speak to people with all so many different financial difficulties every day it’s just another day for them, and they’re trained to offer help with compassion.

Worrying That The Only Solution Is Too Drastic

It’s easy to be terrified about the belief that the only path out involves severe measures, like losing a home or being forced into bankruptcy. No one wants to go through either, which is of course entirely understandable. Often, it’s a mental leap to the worst possible outcome, and in some cases can keep people from exploring more sensible options. 

No matter how everything turns out, every debt helper will focus on finding a structured plan that fits the current circumstances you face. Sometimes, yes, both of those can be on the cards. But there are also are many steps in between, for instance setting up a structured repayment program or exploring a debt management plan pros and cons of which can be properly considered to help keep those outcomes at arms length. Most of the time, the solutions presented are much less severe than your fear suggests they will be, and even if you do have to start again, it can be easier than having this drag weighing you down at every turn.

Feeling Exhausted By Admin

We totally understand that the thought of gathering up all the documents, phone numbers, and figures that relate to the problem can feel like an impossible task and exhausting, like a huge amount of work for the opposite of a reward. You might imagine hours spent on hold and filling out forms that never end, which is enough to make anyone put it off, and many do.

It’s worth noting however, that professional advisors are there to simplify this process and may even make it easier, like negotiating with your creditors using their brand power. They often take on much of the admin workload as a result, and guide a person through each step.

With this advice, we hope you can more easily address problem debt despite the issues.