Table Of Contents
- 1. You’re Avoiding Looking At Your Bank Account Or Bills
- 2. You’re Only Making Minimum Payments
- 3. You’re Using Credit To Pay For Essentials
- 4. You’ve Missed Payments Or Fallen Into Arrears
- 5. You’re Constantly Worried About Money
- 6. You’re Using Credit To Pay Off Credit
- 7. You’re not sure how much you owe anymore
- 8. You’re putting off asking for help
- How To Tackle Problem Debt (And Where To Start)
If you’re worried about your finances but aren’t sure whether it’s time to get help, you’re not alone. Many people delay asking for support because they feel unsure, overwhelmed or hopeful that things will improve on their own.
But spotting the early signs of unmanageable debt can help you take control before the pressure builds. Our team speaks to people facing debt every day, so we’ve gathered eight common warning signs that you might need support and why getting help sooner is often the best decision.
1. You’re Avoiding Looking At Your Bank Account Or Bills
Anxiety around checking your balance or opening bills can be a sign that your financial situation is becoming too stressful to face. Ignoring reminders or delaying logins doesn’t solve the problem, it often makes things harder in the long run.
Facing your finances early opens up more options and gives you the chance to feel more in control.
2. You’re Only Making Minimum Payments
If you can only afford the minimum payment on credit cards, catalogue accounts or store cards, your balance isn’t really going down. Over time, interest adds up and it becomes harder to clear what you owe.
This is often the first sign of persistent debt and a clear reason to look into debt help before things get more expensive.
3. You’re Using Credit To Pay For Essentials
Using a credit card or overdraft to pay for food, rent or everyday costs usually means your income isn’t stretching far enough. What might start as a short-term solution can quickly become a cycle that’s difficult to break.
This kind of borrowing is a strong indicator that debt advice could make a real difference.
4. You’ve Missed Payments Or Fallen Into Arrears
A missed payment here or there might not feel serious, but it can lead to extra charges, damage to your credit score and even letters from creditors or enforcement agents if left unresolved.
If you’re already in arrears or struggling to catch up, reaching out for debt help can stop things escalating.
5. You’re Constantly Worried About Money
If money is affecting your sleep, relationships, mood or ability to focus, that’s just as important as the numbers in your account. Financial stress can take a real toll on your mental health and it’s a sign that something needs to change.
Getting the right debt advice can relieve pressure and help you feel more in control again.
6. You’re Using Credit To Pay Off Credit
Relying on balance transfers, payday loans or overdrafts to cover other debts is usually a sign that things have gone beyond manageable. This kind of juggling can create more interest and more stress.
A structured plan with expert guidance can give you a clearer, more stable path forward.
7. You’re not sure how much you owe anymore
Debt can build across multiple accounts without you realising, especially when you’re just trying to keep up. If you’ve lost track of how many payments you have going out, or can’t say exactly what you owe and to who, that’s a red flag.
You don’t need to have all the answers before reaching out. A debt adviser can help you work through it, step by step.
8. You’re putting off asking for help
If you’ve thought about getting debt help but keep putting it off, that alone is a sign that something isn’t working. The earlier you take action, the more support you’ll have available.
You don’t need to wait until things get worse. PennyPlan offers calm, confidential support with no pressure to make a decision before you’re ready.
How To Tackle Problem Debt (And Where To Start)
Recognising the signs of debt is a powerful first step. It’s important to remember there is help available, and acting early can take a huge weight off your shoulders.
One option is to apply for Breathing Space (also known as the Debt Respite Scheme). This government-backed scheme gives you up to 60 days of protection from interest, fees and most types of creditor contact while you get advice and put a plan in place.
At PennyPlan, we offer calm, non-judgemental support with a more personal, ongoing approach. Our team takes the time to understand your full financial situation, help you explore solutions like a Debt Management Plan or IVA, and support you through every step.
We also provide wellbeing support, because we understand how closely money worries are linked to mental health. You won’t just get help with your finances. You’ll also have a safe space to talk, tools to feel more in control and a team focused on your overall wellbeing.
You’re not expected to figure it all out on your own. Getting debt help doesn’t go on your credit record, and asking for support is a sign of strength.
Worried About Debt? We’re Here To Help
If you’re seeing the signs and feel like debt is starting to take over, you’re not alone and you don’t have to face it without support.
At PennyPlan, we help people deal with all types of problem debt — from council tax debt and credit card debt to store card debt and more. We will help you understand your options, feel more in control, and take practical steps towards a better financial future. The sooner you reach out, the more choices you’ll have.
Take the first step and speak to our team today.
