{"id":27700,"date":"2023-10-03T11:08:49","date_gmt":"2023-10-03T11:08:49","guid":{"rendered":"https:\/\/www.lendingstream.co.uk\/blog\/?p=27700"},"modified":"2023-10-03T11:08:51","modified_gmt":"2023-10-03T11:08:51","slug":"how-to-help-someone-in-debt","status":"publish","type":"post","link":"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/","title":{"rendered":"How to Help Someone in Debt? [11 Effective Steps]"},"content":{"rendered":"\n<p>Financial debt can be a heavy burden. One that affects a person&#8217;s financial well-being and mental and emotional health. If someone you know is struggling with debt, your support can make a difference.<\/p>\n\n\n\n<p>In this guide, we will walk you through various steps, online tools, and resources to help someone in debt.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69f297de62ff7\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69f297de62ff7\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#11_steps_you_should_take_when_someone_is_struggling_with_debt\" >11 steps you should take when someone is struggling with debt<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#1_approach_the_situation_with_empathy\" >1. Approach the situation with empathy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#2_educate_yourself_about_debt_management\" >2. Educate yourself about debt management<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#3_offer_practical_assistance\" >3. Offer practical assistance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#4_encourage_professional_help\" >4. Encourage professional help<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#5_support_them_in_creating_a_debt_repayment_plan\" >5. Support them in creating a debt repayment plan<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#6_provide_emotional_support\" >6. Provide emotional support<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#7_encourage_self-care_and_stress_management\" >7. Encourage self-care and stress management<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#8_help_them_improve_their_financial_literacy\" >8. Help them improve their financial literacy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#9_share_your_own_stories\" >9. Share your own stories<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#10_monitor_progress\" >10. Monitor progress<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#11_celebrate_financial_milestones\" >11. Celebrate financial milestones<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#what_if_they_dont_want_your_help\" >What if they don&#8217;t want your help?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#how_to_recognise_the_signs_of_financial_debt\" >How to recognise the signs of financial debt?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#1_changes_in_spending_habits\" >1. Changes in spending habits<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#2_increased_borrowing_or_requests_for_money\" >2. Increased borrowing or requests for money<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#3_avoiding_discussions_about_money\" >3. Avoiding discussions about money<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#4_unpaid_bills_or_late_payments\" >4. Unpaid bills or late payments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#5_selling_personal_belongings\" >5. Selling personal belongings<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#6_increased_stress_or_anxiety\" >6. Increased stress or anxiety<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#7_changes_in_lifestyle_or_social_activities\" >7. Changes in lifestyle or social activities<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#8_unmanageable_credit_card_debt\" >8. Unmanageable credit card debt<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#bottom_line\" >Bottom line<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#faqs\" >FAQs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#how_do_you_help_someone_who_is_struggling_financially\" >How do you help someone who is struggling financially?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#what_can_a_person_do_to_help_themselves_get_out_of_debt\" >What can a person do to help themselves get out of debt?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-help-someone-in-debt\/#what_not_to_say_to_a_financially_struggling_person\" >What not to say to a financially struggling person?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"11_steps_you_should_take_when_someone_is_struggling_with_debt\"><\/span><strong>11 steps you should take when someone is struggling with debt<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_approach_the_situation_with_empathy\"><\/span><strong>1. Approach the situation with empathy<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"532\" height=\"399\" src=\"https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/10\/Approach-the-situation-with-empathy.jpg\" alt=\"Approach the situation with empathy\" class=\"wp-image-27701\" srcset=\"https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/10\/Approach-the-situation-with-empathy.jpg 532w, https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/10\/Approach-the-situation-with-empathy-300x225.jpg 300w, https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/10\/Approach-the-situation-with-empathy-80x60.jpg 80w, https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/10\/Approach-the-situation-with-empathy-265x198.jpg 265w\" sizes=\"(max-width: 532px) 100vw, 532px\" \/><\/figure>\n\n\n\n<p>Bringing up someone else&#8217;s personal financial matters can feel like overstepping. Which is why it&#8217;s crucial to approach the situation with empathy. Understand that financial difficulties can happen to anyone. It&#8217;s essential to create a safe and non-judgmental space for them to open up.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_educate_yourself_about_debt_management\"><\/span><strong>2. Educate yourself about debt management<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Take the time to educate yourself about debt management. Look at strategies, financial resources, and available financial support services. This will help you to provide guidance to the person in debt.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_offer_practical_assistance\"><\/span><strong>3. Offer practical assistance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Assist the person in creating a realistic budget. Helping them analyse their income, expenses, and debt obligations. Encourage them to prioritise essential expenses. And explore ways to reduce non-essential spending. Offer to help them research and negotiate with creditors. Look for potential payment plans or <a href=\"https:\/\/www.lendingstream.co.uk\/blog\/debt-consolidation-loans-for-bad-credit\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>debt consolidation options<\/strong><\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_encourage_professional_help\"><\/span><strong>4. Encourage professional help<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Suggest help from a non-profit credit counselling agency. Or financial advisors who specialise in debt management. Financial counselling can provide personalised advice, It can create a repayment plan. And negotiate with creditors on their behalf.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_support_them_in_creating_a_debt_repayment_plan\"><\/span><strong>5. Support them in creating a debt repayment plan<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Assist your friend or family member in developing a repayment plan that suits their financial situation. Encourage them to prioritise high-interest debts. And explore strategies such as the debt snowball or avalanche method. Offer to review their plan and provide feedback or suggestions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"6_provide_emotional_support\"><\/span><strong>6. Provide emotional support<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Dealing with debts like credit card bills, <strong><a href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-get-out-of-payday-loans\/\" target=\"_blank\" rel=\"noreferrer noopener\">payday loans<\/a><\/strong>, etc., can be emotionally challenging. Offer emotional support by being a listening ear. And reminding them of their progress. Help them stay motivated and focused on their financial goals.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"7_encourage_self-care_and_stress_management\"><\/span><strong>7. Encourage self-care and stress management<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Remind the person to prioritise self-care and stress management. Encourage them to engage in activities that help reduce stress. Like exercise, meditation, or spending time with loved ones. Offer to join the activities to provide more support.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"8_help_them_improve_their_financial_literacy\"><\/span><strong>8. Help them improve their financial literacy<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Empower your loved one by providing financial support. And helping them improve their financial literacy. Share educational resources, and recommend books or online courses. And encourage them to attend financial workshops or seminars. The more they understand about personal finance, the better. They will be able to make informed decisions, <strong><a href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-take-control-of-your-finances\/\" target=\"_blank\" rel=\"noreferrer noopener\">control their finances<\/a><\/strong>, and avoid future debt.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"9_share_your_own_stories\"><\/span><strong>9. Share your own stories<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Discussing your personal experiences with family or friends can help. It&#8217;s common for people in financial trouble to feel hesitant about seeking advice. And they might not be open to suggestions on managing their finances. But they might feel at ease if you share your experiences.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"10_monitor_progress\"><\/span><strong>10. Monitor progress<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Regularly check in with them to monitor their progress. And offer ongoing support. Celebrate milestones and provide encouragement to stay motivated.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"11_celebrate_financial_milestones\"><\/span><strong>11. Celebrate financial milestones<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Celebrate significant milestones. This could be <a href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-pay-off-a-loan-early\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>paying off a debt<\/strong><\/a> or reaching a <a href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-set-financial-goals\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>savings goal<\/strong><\/a>, acknowledging their hard work.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"what_if_they_dont_want_your_help\"><\/span><strong>What if they don&#8217;t want your help?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>If someone doesn&#8217;t want your help it&#8217;s important to respect their decision. Here are some steps you can take:<\/p>\n\n\n\n<p><strong>Respect their decision:<\/strong> Everyone has the right to manage their personal matters in their own way. If they decline your help, respect their choice. And let them know you&#8217;re there if they change their mind.<\/p>\n\n\n\n<p><strong>Keep communication open:<\/strong> Let them know that you&#8217;re available to talk about any topic. Not just their financial situation. Keeping communication open can help maintain your relationship. And may make them more comfortable seeking your help in the future.<\/p>\n\n\n\n<p><strong>Be patient: <\/strong>It can take time for someone to accept that they need help. Be patient and give them the space they need.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"how_to_recognise_the_signs_of_financial_debt\"><\/span><strong>How to recognise the signs of financial debt?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"532\" height=\"399\" src=\"https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/10\/Recognise-the-signs-of-financial-debt.jpg\" alt=\"Recognise the signs of financial debt\" class=\"wp-image-27702\" srcset=\"https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/10\/Recognise-the-signs-of-financial-debt.jpg 532w, https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/10\/Recognise-the-signs-of-financial-debt-300x225.jpg 300w, https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/10\/Recognise-the-signs-of-financial-debt-80x60.jpg 80w, https:\/\/www.lendingstream.co.uk\/blog\/wp-content\/uploads\/2023\/10\/Recognise-the-signs-of-financial-debt-265x198.jpg 265w\" sizes=\"(max-width: 532px) 100vw, 532px\" \/><\/figure>\n\n\n\n<p>Recognising signs of financial burden in others can be challenging. <strong>However, there are things that can help you identify potential signs:<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_changes_in_spending_habits\"><\/span><strong>1. Changes in spending habits<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Excessive shopping, frequent splurges, or a sudden decrease in spending, can be a sign of debt. They may be trying to compensate for their financial difficulties. Or using credit to maintain their lifestyle.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_increased_borrowing_or_requests_for_money\"><\/span><strong>2. Increased borrowing or requests for money<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>If someone frequently asks to borrow money. Or consistently seeks financial assistance, it may indicate that they are facing difficulties.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_avoiding_discussions_about_money\"><\/span><strong>3. Avoiding discussions about money<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>People who are burdened by debt may avoid conversations about money. Or become uncomfortable when the topic arises. They may change the subject. Or exhibit signs of anxiety or stress when financial matters are brought up.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_unpaid_bills_or_late_payments\"><\/span><strong>4. Unpaid bills or late payments<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>If you notice that someone consistently has unpaid bills. Or frequently makes late payments. It could be a sign that they are struggling to manage their debt obligations.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_selling_personal_belongings\"><\/span><strong>5. Selling personal belongings<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Selling belongings can be a sign that someone is trying to generate quick cash. They may be doing this to address their financial obligations.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"6_increased_stress_or_anxiety\"><\/span><strong>6. Increased stress or anxiety<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Financial debt can cause significant stress and anxiety. If you observe someone displaying signs of heightened stress, it may suggest they are dealing with debt-related issues.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"7_changes_in_lifestyle_or_social_activities\"><\/span><strong>7. Changes in lifestyle or social activities<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>People burdened by debt may make noticeable changes in their lifestyle. They may avoid going out, decline invitations, or express concerns about the cost of activities.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"8_unmanageable_credit_card_debt\"><\/span><strong>8. Unmanageable credit card debt<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Accumulating high credit card balances. And struggling to make payments beyond the minimum requirement can be a sign of mounting debt. Credit card debt with interest rates can quickly become unmanageable.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"bottom_line\"><\/span><strong>Bottom line<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Supporting a friend or family member in financial distress requires empathy, understanding, and patience. Remember, it&#8217;s not just about helping them overcome debt problems. But also, about restoring their confidence and well-being. Your commitment to their financial and personal lives can make a difference in their recovery.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"faqs\"><\/span><strong>FAQs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-1696331144348\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"how_do_you_help_someone_who_is_struggling_financially\"><\/span><strong>How do you help someone who is struggling financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Firstly, it&#8217;s crucial to lend a caring ear. Following this, help them assess their financial situation. Do this by identifying their sources of income, monthly expenses, outstanding debts, and assets.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1696331157148\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"what_can_a_person_do_to_help_themselves_get_out_of_debt\"><\/span><strong>What can a person do to help themselves get out of debt?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Individuals can start by assessing their debt situation. Following this create a budget that prioritises essentials and cuts non-essential spending. Other considerations include increasing their income where possible. Or choosing a debt repayment strategy (like snowball or avalanche. When in doubt, seek guidance from credit counselling services if necessary.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1696331167691\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><span class=\"ez-toc-section\" id=\"what_not_to_say_to_a_financially_struggling_person\"><\/span><strong>What not to say to a financially struggling person?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Avoid saying things that may worsen the situation or be insensitive. Such as blaming them for their financial struggles. Or comparing their situation to others. Instead, offer empathy, support, and help if appropriate.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n<p><strong>Disclaimer: <\/strong>The information given above is provided for reference only. This is not financial advice.<\/p>\n\n\n\n<p><strong>Related guides:<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.lendingstream.co.uk\/blog\/should-i-pay-off-my-mortgage-early\/\"><strong>Should I Pay Off My Mortgage Early Or Save<\/strong><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-much-money-do-you-need-to-live-comfortably-uk\/\"><strong>How Much Money Do You Need To Live Comfortably in the UK<\/strong><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-retire-early-with-little-money\/\"><strong>How To Retire Early with Little Money in the UK<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial debt can be a heavy burden. One that affects a person&#8217;s financial well-being and mental and emotional health. If someone you know is struggling with debt, your support can make a difference. In this guide, we will walk you through various steps, online tools, and resources to help someone in debt. 11 steps you [&hellip;]<\/p>\n","protected":false},"author":48,"featured_media":27704,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[139],"tags":[],"class_list":["post-27700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money"],"_links":{"self":[{"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/posts\/27700"}],"collection":[{"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/users\/48"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=27700"}],"version-history":[{"count":1,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/posts\/27700\/revisions"}],"predecessor-version":[{"id":27703,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/posts\/27700\/revisions\/27703"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/media\/27704"}],"wp:attachment":[{"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=27700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=27700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=27700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}