Accordingly the Money Advice Service, one in six of all adults are struggling with the debt and are "at risk of a debt crisis".
It is not unusual for people to have a debt problem. Getting them to admit the problem before it gets to crisis stage is tough. We tend to just hide our heads in the sand and go on as thought the problem doesn't exist.
We think that is a big mistake and we really do want people to take control of their lives. Debt can be crippling in so many ways. It's better, in our view, to know exactly what is going in with your debt and manage it, rather than letting your debt build and build until it gets unmanageable.
You Can Help
If one in six people have a sever debt problem, the chances are that you know someone who is in crisis. If so, help them to recognise the problem and encourage them to solve the problem. You can help by supporting them and doing little more than starting a conversation with them. You get then encourage them to get professional help, such as speaking with Citizens Advice.
Are you able to spot the signs of debt?
Common questions to ask:
- Has something traumatic gone in their life recently such as loosing a job?
- Are they reluctant to talk about debt?
- Do they seem reclusive, distant, anxious or withdrawn?
- Has they been in a debt crisis situation before?
- Are they living well beyond their means and spending lavishly, eg having expensive holidays or buying 'must have' items?
- Are they loosing weight or increasingly angry or snappy?