S for Shame

Acknowledging that you’re in debt isn’t easy for anyone, which is why so many people stick their heads in the sand until the last possible moment.

What a lot of people find even worse than admitting the problem to themselves, however, is admitting it to other people. Have you found that your clients have denied being in debt (unfortunately sometimes until it’s almost too late) because they are crippled with the fear of judgment from others? It’s something I’ve come across time and time again.

What people don’t seem to recognise is that debt is a national problem; according to the ASDA Tracker, families now have £780 less to spend a year than they used to, and we are still seeing more than 330 people a day being declared insolvent or bankrupt.

Despite this, many people are still cripplingly ashamed. I was nearly unable to help one client of mine, Tommy Evans, because he was too embarrassed to seek help. Tommy had five figures worth of debt which he had racked up since leaving school. A real family man, he had wanted to give his wife everything – fancy house, fancy car, luxury holidays etc. He also works as a probation officer for a maximum security prison.

Tommy was desperate that there was no publicity about the amount of debt he was in, particularly with his high profile job, and so he had put off seeking advice for as long as he could. However, once he finally got in contact with me we managed to settle with his major creditors almost straightaway and set him up on a steady debt management plan.

Tommy eventually told his wife and close members of his family, but managed to keep it out of the public sphere. Four years down the line his plan is working well and he’s in the process of clearing his debts.