Debt & mental health

Tryingnottobeskint

Hey everyone 

Just something I’ve been wanting to ask for a while. I’ve racked up a lot of bad debt and am paying this back via a DMP. Due to rising costs of living the amount I’m paying is going to take me around 10 years to clear. The thought of this has caused my depression to resurface uglier than ever before.

what my question is really, is how do you stop debt being all you can think about? I’ve taken steps with my GP regarding medication and referral to psychology so know I am doing the right things, but it doesn’t stop the spiralling and feelings of worthlessness. I just want to know if any of you guys have felt similar and what coping mechanisms if any you had in place to help. My hair is all falling out due to this which makes me feel worse. 

How do you stop debt being the only thoughts morning till night and try to live life in a meaningful way? I thought about debt mental health write off but at the same time this is my fault and also, I’d assume this requires years of evidence and supported documentation 

Sorry for venting I just wanted to know how others have felt in this situation.

Appreciate all the advice etc I have read so far on these pages thanks guys 

sourcrates

Tryingnottobeskint said:

Hey everyone 

what my question is really, is how do you stop debt being all you can think about? 

How do you stop debt being the only thoughts morning till night and try to live life in a meaningful way? I thought about debt mental health write off but at the same time this is my fault and also, I’d assume this requires years of evidence and supported documentation 

You just have to understand that credit debts are all non priority, and are last in line for payment, also that the lender you borrowed from is a million times richer than you are, and money lenders don`t have morals.

Basically I would not waste my time worrying about it, if you think your mental health issues have contributed to your debt, then make a complaint, its not as difficult to evidence as you may think.

Honestly you are worth so much more than a credit card balance, it really is not worth you worrying about it, do not let debt define you, its just money, in 100 years no one will know or care.

Tryingnottobeskint

sourcrates said:

Tryingnottobeskint said:

Hey everyone 

what my question is really, is how do you stop debt being all you can think about? 

How do you stop debt being the only thoughts morning till night and try to live life in a meaningful way? I thought about debt mental health write off but at the same time this is my fault and also, I’d assume this requires years of evidence and supported documentation 

You just have to understand that credit debts are all non priority, and are last in line for payment, also that the lender you borrowed from is a million times richer than you are, and money lenders don`t have morals.

Basically I would not waste my time worrying about it, if you think your mental health issues have contributed to your debt, then make a complaint, its not as difficult to evidence as you may think.

Honestly you are worth so much more than a credit card balance, it really is not worth you worrying about it, do not let debt define you, its just money, in 100 years no one will know or care.

Thank you Sourcrates this does help. I think it is difficult not to compare myself to others not in debt which doesn’t help me any.

My mental health has always been an issue causing erratic spending etc. I’m not sure how to evidence this to creditors as I sought very little help at the time for it. It is now mostly I am facing the repercussions. Do you think it would be worth completing DMHEF form, nothing to lose really?

gwynlas

You have done what you can and hopefully set the DMP at an affordable level that allows you sufficient living expenses. Now just forget it it is just another payment going out in the same way as council tax or heating bills. My father would not take on a mortgage because he did not want a debt around his neck for 25 years but millions of people  have and do knowing that one day this debt will be cleared

sourcrates

Tryingnottobeskint said:

Do you think it would be worth completing DMHEF form, nothing to lose really?

Yes of course you should fill in the form, if its been a factor in your erratic behaviour, which has resulted in unaffordable debt, then you should use any means necessary in order to reduce its impact on you.

Evidence of such behaviour can be hard to find, its best just describing your situation in your own words, people always ask for template letters, but a lot of the time they are obvious to the lender, and don`t get the scrutiny they deserve, where as a brief and concise personal account of how your condition affected your thought process makes much more of an impact.

MEM62

Tryingnottobeskint said:

sourcrates said:

Tryingnottobeskint said:

Hey everyone 

what my question is really, is how do you stop debt being all you can think about? 

How do you stop debt being the only thoughts morning till night and try to live life in a meaningful way? I thought about debt mental health write off but at the same time this is my fault and also, I’d assume this requires years of evidence and supported documentation 

You just have to understand that credit debts are all non priority, and are last in line for payment, also that the lender you borrowed from is a million times richer than you are, and money lenders don`t have morals.

Basically I would not waste my time worrying about it, if you think your mental health issues have contributed to your debt, then make a complaint, its not as difficult to evidence as you may think.

Honestly you are worth so much more than a credit card balance, it really is not worth you worrying about it, do not let debt define you, its just money, in 100 years no one will know or care.

I think it is difficult not to compare myself to others not in debt which doesn’t help me any.

Try not to do that as it is unrealistic and it is not a competition.  You might look at someone and think that they have no financial worries but that is only an assumption - you don't really know.  You cannot tell how much money someone has (or even what life issues they might have) as people have a tendency to keep such things hidden.  The reality can be very different to the rosy picture painted for the outside world. 

You just deal with the bloke in the mirror.  How you compare to the rest of the word is irrelevant.   

sourcrates

MEM62 said:

Tryingnottobeskint said:

sourcrates said:

Tryingnottobeskint said:

Hey everyone 

what my question is really, is how do you stop debt being all you can think about? 

How do you stop debt being the only thoughts morning till night and try to live life in a meaningful way? I thought about debt mental health write off but at the same time this is my fault and also, I’d assume this requires years of evidence and supported documentation 

You just have to understand that credit debts are all non priority, and are last in line for payment, also that the lender you borrowed from is a million times richer than you are, and money lenders don`t have morals.

Basically I would not waste my time worrying about it, if you think your mental health issues have contributed to your debt, then make a complaint, its not as difficult to evidence as you may think.

Honestly you are worth so much more than a credit card balance, it really is not worth you worrying about it, do not let debt define you, its just money, in 100 years no one will know or care.

I think it is difficult not to compare myself to others not in debt which doesn’t help me any.

Try not to do that as it is unrealistic and it is not a competition.  You might look at someone and think that they have no financial worries but that is only an assumption - you don't really know.  You cannot tell how much money someone has (or even what life issues they might have) as people have a tendency to keep such things hidden.  The reality can be very different to the rosy picture painted for the outside world. 

You just deal with the bloke in the mirror.  How you compare to the rest of the word is irrelevant.   

I agree with this, how many new posters come on here, who are earning fantastic salaries, yet are cash poor, and with massive debts, and with all there disposable income going to debt repayments?

The answer is lots, it seems to not matter how much you might earn, lots of folk these days finance their lifestyle with credit, its a time bomb waiting to explode, it really is.