Tackle debt with a positive mind

Do you know the signs to look for when your mental health is declining due to debt?

Here at Citizens Advice Portsmouth, the Money Advice Team, and the Positive Minds Team, frequently see just how close the link can be between debt and poor mental health.

Recent studies by Citizens Advice Research and Campaigns show that poor mental health can cost just one household up to £1,550 per year on top of those everyday bills due to inaccessible services, inadequate regulatory protections, such as regulations which should protect you from pay-day loan operators and a lack of tailored support to meet the needs of some of the most vulnerable people accessing services across the board.

The Cost-of-Living Crisis is beginning to take effect and the Money Advice Team have begun receiving reports of increases to some energy bills of up to 100 percent.

It's not only low-income households which are being affected by the extreme hike in costs. We are seeing a rise in homeowners, self-employed and those in full time employment needing to access vital support.

Often, poor mental health is not recognised until a person hits crisis point. It's not always obvious and people don't always want to admit how they are feeling. We often hear people say things like 'I don't want to open the letter, I know what it is, and it makes me anxious' or, 'If I don't open the bill, it might go away' and sometimes 'I'm ashamed it got so bad, I don't know want anyone to know'.

Statistics show that 1 in 5 households will need to cut down on their food shop while 1 in 10 families will experience financial crisis this coming winter. With 10 percent of people anticipating they will need to access crisis support; it is important people know where to get help and what kind of help is available.

Here at Citizens Advice Portsmouth, we have services that can help you manage your debt and look at resources to relieve the anxiety or depression you may feel when your financial situation seems hopeless.

Our Money Advice Team are specialised in debt management and can offer several options of resolution, whether informal Debt Management Plans right through to advice on how to access tools for bankruptcy and Debt Relief Order proceedings. The advice is tailored to suit you and we can offer face to face appointments, telephone calls or virtual calls with our specialist Money advisers to discuss the right options.

We also have an adviser as part of the Citizens Advice working alongside Positive Minds, where you can get support to deal with your wellbeing that maybe created by debt, and they can support you to access other organisations for additional support if required.

Citizens Advice Portsmouth is open Monday to Thursday, 10am to 3pm. No booking is necessary, and our discrete receptionist will ensure you see the right person depending on your circumstances.

Don't wait until you're in crisis, act against debt.