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April 2025 PayPlan Blog
Being in debt can feel like an overwhelming weight on your shoulders, impacting not just your finances but also your mental and emotional wellbeing. We understand that the psychological impact of debt is often just as significant as the financial challenges it presents.
Being in debt might feel lonely but it can be reassuring to know you’re not alone in this situation and many others are experiencing similar feelings. This in particular is why we share our debt diaries, where real PayPlan clients talk through their debt journeys.
Debt can heighten a range of emotions, including anxiety, stress, shame, and even depression. The constant worry about money, rising bills, and payment deadlines can feel isolating and have a knock-on effect on your day-to-day life.
Tips to cope
Managing the emotional impact of debt is just as important as finding a solution to the financial side. Here are a few steps to help you cope:
- Acknowledge how you feel: It’s okay to feel stressed, anxious, or overwhelmed. There’s help available if you need it.
- Seek professional advice: Speaking to a debt advisor can help you gain control of your situation and work out the options available to you. PayPlan offers free debt advice, and we’ll work with you to find the best solution for your circumstances.
- Keep in touch: Talk to trusted friends, family, or support groups. Debt isn’t a burden you need to carry alone and you may even meet new friends to help you along the way.
- Look after your mental health: Reach out to organisations that provide support for mental wellbeing. We partner with a wider support network of over 140 partner organisations so our advisors can refer clients for support when they contact us for debt advice. For instance, Bipolar UK offers specialised support for those with bipolar disorder who may be facing financial stress, while SHOUT provides confidential text support for those experiencing a mental health crisis.
- Self-care: Activities like regular exercise, relaxation, or hobbies can help reduce stress and improve your mood. There are many that are free that won’t impact your debt further.
What you can do next
If you are struggling with debts call us on 0800 072 1206. We’re open from 8am – 8pm Monday to Friday and 9am – 3pm on Saturdays.
Alternatively, you can visit our www.payplan.com/shhuk to speak to us via live chat or for more information.
