Category Archives: Living with debt

How to stay motivated while getting out of debt

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Whether you’re taking the very first steps to repay your debt or are have been dealing with them for a while, it can be hard to keep a positive attitude. We’ve found some really useful ideas to stay motivated when getting out of debt.

Staying motivated can be difficult when there’s a lot to take in, plan for and keep on top of. But don’t worry; you can use these handy tips right away.

writing in a planner

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Money worries: how cancer can affect your finances

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If you’re affected by cancer, it can be tough on your finances. In fact, research from Macmillan Cancer Support shows that 4 in 5 people affected by cancer are on average £570 a month worse off as a result.

This is Laura’s story…

Laura was diagnosed with Hodgkin’s Lymphoma in 2011. Due to not being able to work during intense treatment, she experienced financial difficulties. She also found getting travel insurance difficult.

She received support and information on benefits from Macmillan, as well as help from her friends and family.

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Can I get a mortgage while on a DMP?

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This has been one of our most successful articles since it was first written in 2013, so we’ve updated and republished it for 2017.

Can you get a mortgage on a DMP?

Can I get a mortgage on a DMP?

Being in debt doesn’t mean that you can’t have dreams. So if you’re in debt and hoping to get on the property ladder then it’s natural that you may think “Can I get a mortgage if I’m on a debt management plan?”

There isn’t an easy answer to this question because every situation is different.

However, we can tell you a bit about what your chances are.

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A friend in need…what to do if someone you know is in debt

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Don't let your friend suffer in silence any longer.

Don’t let your friend suffer in silence any longer.

You’ve known for a while now that someone you care about is going through a rough patch with money.

Their face is constantly tight with worry and there’s a stack of bills on their side table. You can’t have a five-minute conversation without their phone ringing, and every time it does they let out a world-weary sigh.

There could be a whole host of reasons why they’re struggling, some you may not even be aware of. Maybe they recently had their hours cut at work, or their partner walked out. Perhaps their household expenses have been creeping up in price over time (you no doubt know yourself how expensive things are these days). You want to help but don’t know how.

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Don’t fall out with family and friends over money

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If you’re on a debt solution with us, get in touch with us before borrowing money off a loved one. It might be possible to reduce your payments to your debts temporarily to cover any emergency expenses.

No one wants to fall out with someone they care about over money.

Back in September 2016, our research showed how debt can damage relationships. Sometimes the person lending the money is struggling too.


This added pressure could result in the person lending the money blaming the borrower for their difficulties, which can damage relationships.

With this in mind, let’s look at the alternatives to borrowing money from your loved ones.

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How to get your credit report

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Getting your credit reportDo you worry about your credit score? Are you confused by people talking about their credit report? You’re not alone. Dealing with debts, and understanding your credit report can be daunting, but we’re here to help.

We’ll explain how you can get your credit report, what’s on and it and why your credit score is important so that you can feel confident about dealing with your finances.

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How does your mental health affect your money? Have your say.

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Bronwen Dalley Smith, Communications and Events Assistant for the Money and Mental Health Policy Institute, has written a guest post to tell us about the work they’re doing to support people dealing with debt and mental health problems.

Last year, nearly 600,000 people turned to StepChange Debt Charity for debt advice. That’s more than one person every minute of every day, throughout the whole of 2016. While this was StepChange’s highest yearly record to date, they were able to help.

At the Money and Mental Health Policy Institute we regularly talk to people who are getting their finances back on track with the help of StepChange Debt Charity. Yet, as a research charity exploring the link between financial difficulty and mental health, we couldn’t help but be concerned by this figure.

Half of British adults with a debt problem also have a mental health problem, so it can be assumed that nearly 300,000 of those who contacted StepChange last year were also struggling with poor mental health. The two are so closely entwined, that it is often impossible to identify which is the cause and which is the effect.

Whether mental health problems hinder your ability to manage your money or your financial situation worsens your mental health, once entered, the cycle can seem never-ending. Continue reading »