Publications from ODSW Social Insights: Letters by DSW (Vol 1) | Page 81
Helping Those with Debt
Dear Students of Social Work,
Social workers in the course of their work will come across individuals and
families who face debt payment problems. Debt payment problems can be
attributed to various causes such as mental health problems and gambling.
These problems often make it difficult to deal with money on a day-to-day
basis and affect motivation, judgement and income. The downward spiral
is fast and is often compounded by being unable to work long-term and to
make ends meet.
Debt isn’t just a financial problem. It can cause relationships to break up,
people to lose their homes and families to break down. No matter who the
individual is, it can be hell. While debt isn’t bad in itself and most people
do have some form of “debt”, debt is bad when it is unplanned and severe,
leading to crisis debt situations. A rational decision to borrow cheaply is
fine. Mortgages, student loans and more are an integral part of the modern
financial world. But debts that result from gambling, ill fortune or business
failures can be extremely stressful.
Debt, stress and anxiety
Debt and mental health problems, whether they are caused by redundancy,
bereavement, relationship breakdown, abuse or just naturally occurring, are
rarely talked about and are not uncommon. What’s also rarely discussed is the
link between mental health issues and debt. When debt mounts up, so does
stress and anxiety. When a person is in serious debt, it can be hard to imagine
an end to the financial stress. It is important to support the person and to give
them hope.
It’s easy to feel isolated when a person or a family member is in serious debt.
Some people may feel embarrassed or worried about what their friends and
family will say, and so they keep the debt problem bottled up. So when a
person has stepped forward to disclose and get help, it is important for him
to know that he will not be judged and that people have successfully gotten
out of debt with a ‘get out of debt’ action plan.
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