Letting It Out: Talking About Your Debt

Debt is often a dirty secret. Among friends, family and even within marriages, debt can be kept from those closest to us because it is often associated with shame and blame. People get into debt for all sorts of reasons, under all sorts of circumstances; 55% of Americans with a credit card have unpaid debt. Untreated and undiscussed, debt can pile up, leading to drastic consequences that can affect your life in more ways than one; repossession of your home and your belongings, and even legal action that can be taken against you. This is a tragic thing which does not need to happen – with the right debt solutions, a firm plan in place and a friend to lean on, you can get through your debt issues without losing everything.

Here are a few tips for talking about and dealing with your debt. 


1. Find a Confidant

Keeping our issues a secret never leads to good circumstances. Sure, nobody wants to shout from the rooftops about their debt issues, but without telling anyone at all, the problem can eat you up. Finding a confidant, someone you can speak to about your debt, is the first step to debt relief. Getting this problem off your chest will give you immense relief, and help you find the strength you need to go forward and find a solution. 

So who should you tell about debt? If you don’t want to speak with family or friends about it, you could consider seeing a therapist and asking them to help guide you through the mental and emotional side effects of debt. Alternatively, you could speak to a qualified accountant about your money issues. 

2. Talk to A Specialist

Next, it’s time to consider your options. Talk to a financial specialist to help you figure out which steps are best for you. In addition, you could research some financial information, history, found at DTSS.us Banking History, to make sure you know your rights and the legal requirements around declaring and repaying your debt. 

So, what kind of a financial specialist should you speak with? Generally, this should be a financial advisor or Citizens Advice finance specialist who can help you with your needs and figure out your next steps with you. This could be declaring bankruptcy, challenging your debt in court or focusing on repayment.

3. A Repayment Plan

If you decide against declaring bankruptcy or legally challenging the amount of debt interest you have incurred, you should begin to work out your repayment plan. An expert advisor would greatly help you to set out how you can repay your debts within the required time. Make sure your repayment plan is achievable and sustainable, so that you can stick to it in a healthy way that is as stress-free as possible. 


Debt doesn’t have to be a dirty secret or a source of shame. Talking about your debt is the first step to changing your situation; find a friend and get to work on changing your life for the better today.

This is a collaborative post

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