A very big issue for a lot of people is the fact that debt problems rarely come alone. People suffering from financial problems and issues will often find that these problems seep into other aspects of their life. This means that a small problem can become a big problem in a short period of time and a lot of people will soon find that their life can feel like it is coming apart in a range of ways.

This is an area that is recognised by a number of major organisations and a leading Citizen’s Advice organisation has recently published a report which looks into debt related problems around the country. The report, backed by a leading charity in the United Kingdom, points out that many people are struggling with debts that they cannot manage, and that these people also face issues and problems in other areas of their life.

Are you dealing with spiralling debt problems?

The Citizen’s Advice organisation deals with 5,200 debt issues every year, which works out as 100 cases every single week. Of these cases, 46% of the cases saw the person involved also state that they had issues in another area of their life. The most common examples were welfare and housing benefits. It is easy to see that spiralling debt problems can be a massive issue for people and if more isn’t done to assist people, we could be facing a major problem in the United Kingdom.

With close to 75% of the people turning to the organisation for help saying that their financial situation leaves them feeling stressed or anxious, there is no denying that debt is a major problem for people. There needs to be more done with respect to helping people get support but there also needs to be more done with respect to helping people feel as though there is a solution. There is often too much focus or attention on providing a release or a chance to talk without actually setting out to help people move out of debt or try to improve their life.

The same report also suggests that people who have unsecured debt, such as personal loans or credit card debt, are unlikely to try and move home, unless forced to, apply for a job or attempt to start a new business. With personal debt almost acting like a straight-jacket in people’s lives, we could see many people in the United Kingdom toiling and not being able to move forward with their life.