How to help overcome bad credit stress

How to help overcome bad credit stress

If you are struggling to manage your finances and you have debts it is likely you will be suffering from stress. Along with the financial worries, struggling with debt often leads to depression, anxiety and stress and can cause tension or arguments between you and your friends and family.

Below are a few tips to help deal with the stress and pressure that come with being in debt.

Come to terms with the problem

Before you can tackle your debt and the associated worry and stress that come with that, you need to accept that it is a problem. For many people, debt is something that creeps up on them, building slowly over time. Your debt may have grown from being small and manageable into something that now feels like it is out of your control, but now you need to accept that your debt is a problem and by accepting that is a problem you can prepare yourself to tackle it.

Talk about your debt

It is important that you talk to someone about your worries. By talking about your problem you share the burden of worry and help to reduce feelings of stress. Be open with your partner about your debt, it affects them too – both financially and emotionally.

By talking to other people about your debt problems, they may be able to help with solutions that you had never thought of. You could use others knowledge of finances as a way of helping your current situation.

If you are unsure about what to do about your current bad credit situation and feel unable to talk to your family and friends about your debt problems there are many charities dedicated to providing free and confidential advice on debt.

• www.moneyadviceservice.org.uk
• www.stepchange.org
• www.nationaldebtline.org
• www.citizensadvice.org.uk
• www.debtadvicefoundation.org

Take action sooner rather than later

The sooner you start dealing with your debt, the sooner the problem will be resolved. Your first steps should be:

• Get in touch with a debt organisation like the Citizen’s Advice Bureau or StepChange for free impartial advice or any of the above organisations.
• Stop ignoring bills and start speaking to your creditors to discuss your options.
Get your confidence back

Get your confidence back

Taking action also has the benefit of giving you a feeling of accomplishment, and you’ll soon start to see that your debt is a problem that you can overcome. So if you’re feeling as though your debt is a huge problem, or something you can’t deal with, remember that taking small steps will help to restore your confidence and eliminate the feeling of depression.

Address the stress caused by your debt problems

If you have been suffering with growing debts, you may also have felt some degree of stress, anxiety or even depression. The worries associated with being in debt are very natural and very common so do not feel that you are on your own. There are simple steps you can take to help you relax. It’s also important to remember that your debt is a problem that you will overcome and not something that you will be stick with forever. If you take action now, in a few years’ time your debt will seem like a distant memory. So while you deal with your debt, remember to:

• Eat well. A healthy, balanced diet will help your mind and body function.
• Exercise. Run around the park, hop on a bike – exercise doesn’t have to be expensive.
• Sleep. A good diet and regular exercise will help you sleep.
• Keep it all in perspective. Your debt is a problem that you are dealing with.

Tackle the psychological aspects of debt

Your debt may be linked to your emotional or psychological needs. For many people, spending money is a way to boost their mood, to reward themselves or to make up for disappointments.For others, debt and depression become very connected, with debt fuelling depression which in turn fuels a desire to spend. For some, shopping is an addiction, which can be as difficult to stop as drinking alcohol or taking drugs.If you know that your spending habits are affected by your emotional or psychological state, you may want to seek counselling. Speak to your GP, who may refer you to a counsellor to help manage your feeling towards spending.

Find your path away from debt

Debt is a problem that you can solve. By taking the first steps towards tackling your debt, you will begin to feel less stressed and more in control. As your debt becomes manageable, remember to take care of yourself by eating well and exercising regularly. It may also be necessary to address the emotional or psychological scars of debt – but help is available and don’t try to manage the situation on your own!

Article Source – U Switch – www.uswitch.com