People get into problems with debt for a variety of reasons.  It can be due to a change in situation such as family bereavement, losing a job, a redundancy, divorce or it could be down to the current austerity measures. Whatever the reason for the debt situation you are in the golden rule is:

“Don’t ignore the problem. It won’t go away and the longer you leave it the worse it will get”

There are a number of key ways to recognise the need to deal with debt. Ask yourself these questions.

• Do you feel powerless and out of control?
• Do you feel anxiety every time the post arrives or the phone rings wondering if it will be creditors demanding money?
• Do you feel you are being short tempered with your family or not able to give your full concentration at work?

If you have been totally honest with yourself and you answer yes to these questions – it’s time to do something. If you don’t, it will only get worse.

It’s important to recognise the impact debt will have on you, your health andyour relationships  At Moneyvillage we have found most people find it impossible to discuss theissue with other people because they feel they are a ‘failure’.  A lot of people tend to ignore the problem and hope that it goes away. Theymay hide the ‘evidence’ i.e. letters from court, arrears letters or bank statements.

But it may make you feel better to know that you are not alone in this position – thousands of Irish people are struggling with their debts. And you can turn your situation around.

Do not ignore the situation you are in – it will not go away and the longer you leave it the worse it will get.

Stop worrying about your debts alone – share your problems with family and friends who may be able to help you with your situation even if only byproviding emotional support.

Make sure you tackle your priority debts first – those debts which could mean you may lose your home and essential services.  The most important point is not to give up.

It may take some time to finally regain control of your finances but you will get there in the end.