Coping with stress and debt

There are various steps that can be taken when dealing with stress and debt

Accept there is a debt problem.

This will go a long way to tackling the problem and continued worry and stress.

Talk to someone about your debt problems,

If you find it difficult to discuss debt issues with family or friends, there are always professionals who will be happy to help and advise on the best way forward.

Some of the organisations you could talk to include-

Self-employed Debt Help Form

Payplan’s self employed advisory team will help you restructure your debts to ease cash flow and allows you to continue to trade. We offer assistance to sole traders partners and limited companies.

Take action

The sooner you take action and control of your debts the sooner the problem will be resolved. Contact us today to discover how we can help you and provide advice regarding a range of debt solutions.

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Address the stress

Once the debts are being dealt with, you should feel less stressed and able to concentrate on other aspects of your life.  Once the debts are kept in perspective, you are then aware of what needs dealing with and the problem doesn’t seem so insurmountable.

Loosing sleep due to debt

Loss of sleep is a very common problem when people are in debt, the problem goes to sleep with you and wakes up with you and the problem does need to be dealt with.  Lack of sleep can be a cause of stress as well as stress being a cause for lack of sleep.  Once the debt problem has been highlighted and is being sorted out, the sleep pattern should return to normal.  Lack of sleep can make any problem seem much worse than the reality.

If stress from debt is causing health problems

Stress from debt can manifest itself in very many ways, from depression, anxiety, panic attacks, migraines and more serious illnesses.  At the point that any of these are causing reduced activity, lack of sleep and not being able see the ‘wood for the trees’, the issues need to be dealt with quickly and without delay.  Talking is the quickest stress buster and a kind listening ear can be all someone will need to be able to see the problem more clearly and to deal with it.  Contact PayPlan today who will be at the end of the phone and able to help with a listening ear and discuss more pro-active solutions.

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Warning signs of stress

There are lots of warning signs of stress – it can manifest itself in many ways and here are some of the more common signs

  • Headaches including migraine
  • Neck or back pain
  • Chest pains
  • Fatigue
  • Loss of appetite or over eating
  • Lack of concentration
  • Short temper
  • Sleep problems

How can you help yourself?

First identify that you have a problem with stress. Then deal with the cause in a controlled manner, seek help for the cause of the stress, whatever it may be, get professional advice. You can also express your concerns by talking to friends and family, they may be able to put the problem into perspective and help in a more pro-active way. With regard to dealing with stress caused by ongoing debt, once you have sought profession help, you can then make a few lifestyle changes that can make a huge difference to your financial situation. There are ways that you can maximise your income and there are many ways to reduce your outgoings.

Help and support available

At PayPlan we understand the impact that debt can have on you, your family and your life. But, unlike other debt advisors, we believe that you can, and should, live a happy life whilst repaying your debt.

We’ve been helping people in situations similar to yours for over 20 years, and during that time we’ve helped hundreds of thousands of people deal with their debt problems.

All PayPlan staff go through rigorous training to advise on debt and debt solutions and they are also trained to spot vulnerable clients and to act accordingly. Whilst all of our clients can be deemed vulnerable due to their financial circumstances, there may be additional contributing factors that increase the risk of detriment, therefore making them ‘particularly vulnerable’. These factors can be categorised into two areas:

  1. Personal circumstances e.g. job loss, separation, bereavement, domestic violence
  2. Personal characteristics e.g. mental health, illness, mental capacity, language, learning/physical disability, poor literacy skills and low financial capability (i.e. ability to budget).

PayPlan has a Vulnerable Client Policy and Procedure which is used by all staff to offer extra support and guidance so rest assured when you contact us you we will do all we can to help you.

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