Debt advisers speak out about the benefits of getting debt advice encouraging people to “reach out, you’re not alone”

• Research from MaPS shows that in 2023 more than 8 million people across the UK needed debt advice, but many do not seek help feeling overwhelmed, embarrassed and worried about the consequences of speaking to a debt adviser.
• Debt advisers Tom, Ioana and Ruby describe how they provide a supportive, non-judgemental environment for people to get the help they need with their finances, with those helped audibly relieved at the support they’ve been given.
• If you are in debt and worried about meeting your repayments, you can use the MoneyHelper debt advice locator toolOpens in a new window to access free advice.

Research from the Money and Pensions Service (MaPS) shows that more than 8 million people across the UK needed debt advice in 2023, with a further 12 million living on the edge. Many do not seek help because they feel overwhelmed, embarrassed and worried about the consequences of speaking to a debt adviser.

To help tackle some of the widely held myths associated with getting debt advice, debt advisers Tom, Ioana and Ruby have spoken out as part of a new video from the Money and Pensions Service. Getting support for debt can help put your mind at ease and help with your wider health and wellbeing as you will feel more in control of your situation.

Some of the common myths shared by those who worry about getting debt advice is that they will lose control of their finances and that having a conversation with a debt adviser will affect their credit rating.

Watch the full-length videoOpens in a new window to hear debt advisers Tom, Ioana and Ruby explain the importance of getting advice if you’re struggling with debt and why it isn’t something you should feel worried about doing.

Shorter clips are also available in which:

• Tom explains what a debt adviser isOpens in a new window
• Ruby sets out the different ways someone can speak to a debt adviserOpens in a new window
• Ioana describes what someone can expect when they speak to an adviser.Opens in a new window

Ioana, one of the debt advisers who took part in the film, said:

“When you contact a debt adviser, you can expect a supportive, non-judgemental environment. We handle your case confidentially and take the time to understand your financial situation and will work with you to find practical solutions that you might not have been aware of or hadn’t considered before.

“If you’re in a difficult financial situation, reach out, you’re not alone. There is absolutely no shame in asking for help. Contact us and start to regain control of your finances.”  

Anna Hall, Corporate Director of Debt at the Money and Pensions Service, said:  

“MaPS research shows that many people don’t get the debt advice they need because they find the process overwhelming, fear the consequences or feel embarrassed.

“It’s important that those affected by debt problems know that they aren’t alone and there is non-judgmental advice and support available to them. If you’re struggling, MoneyHelper will help you find free debt advice and you could join the thousands before you who’ve turned things around.

“Debt problems can have a corrosive effect on someone’s relationships, self-confidence and mental health, and every expense can ratchet up the anxiety. Many people wish they’d acted faster, but no one ever says they got debt advice too soon.”

If you are in debt and worried about meeting your repayments, please use the MoneyHelper debt advice locator toolOpens in a new window to access free advice. 

– ENDS –

• The Money and Pensions Service commissions debt advice in England and does not provide advice directly. Instead, we sign post the public to a range of debt providers through our debt advice locator tool which is available on our free and impartial MoneyHelper websiteOpens in a new window. 

• Talk Money Week is an opportunity for everyone to come together and get involved with events and activities across the UK designed to increase people’s sense of financial wellbeing by encouraging them to open up about personal finance.
• This year’s campaignOpens in a new window will take place from 4-8 November 2024 to encourage people across the UK to ‘Do One Thing’ that could help improve their financial wellbeing.
• It doesn’t need to be huge – all that matters is that we get people talking about money together.