Category: Debt Advice

Starting on 24th March, Debt Awareness Week 2025 is here. Organised by StepChange, this annual event aims to increase awareness of debt and the available solutions for people who are in need of debt advice in Scotland and the rest of the UK. Now in the 11th year of Debt Awareness Week, the focus for 2025 is exploring the judgement and stigma that can sometimes come with debt, with the aim of challenging attitudes and helping people access the support they need. Stepchange research for Debt Awareness Week focusing on the stigma around debt, found that based on a survey of 2,000 people…

• 78% of people felt judged for being in debt
• 90% felt a sense of personal shame about their debt
• 40% would not talk to family or friends about their debt
• Men are more likely to talk about debt than women

There remains a stigma surrounding debt; we want people to understand that they are not alone in their financial worries and that there is help available. Problem debt can happen to anyone; by increasing debt awareness and opening up the conversation about personal debts, we hope that we can empower others in similar positions to ask for debt help. Here at Trust Deed Scotland^®, we know that taking the first step in seeking debt help is challenging. With many of our customers saying that they were worried about taking their first step, we want to reassure others in the same position that when they do reach out, experienced debt advisers can guide them towards the best, tailored debt solution.  

Asking for Debt Help

Are you putting off seeking debt help?

Many people with unaffordable debt delay asking for help. The results from a 2024 Trust Deed Scotland^® survey showed that although over 91% of our customers said they lost sleep worrying about their debt, and 90% said that their debt had an impact on their mental health; only 18% sought help with their unaffordable debt straight away, and 27% waited over 2 years before asking for help. Although our customers struggled to cope with their unaffordable debt, many waited before reaching out to a debt adviser for help; finding it hard to take that first step. There are various reasons for delaying the search for debt help. In the same 2024 survey, we asked our customers what put them off asking for help sooner than they did:

• 65% felt ashamed or embarrassed about their debt.
• 52% felt they could deal with the situation themselves.
• 16% were concerned about the impact on their credit rating.
• 11% said that they were unaware these types of debt solutions existed.
• Almost 10% thought they had too much debt to get help.

97% of our customers said they sought debt advice sooner than they did.

Talking about your Debt

Talking about debt can feel difficult, 88% of our customers hid their unaffordable debt from family or friends Opening up and having a conversation about your debt is the first step toward finding support. Stepchange says you start by choosing someone you trust, like a friend, family member, or debt adviser. You don’t have to share every detail — just saying, “I’m feeling stressed about money and need some advice” can help break the silence. As many as 38% of our customers in our survey told us that they have heard about us from a friend, family member or work colleague. You are not alone, chances are that some people in your close friendship circles are struggling too, especially with the rising cost of living. Remember, you are not alone, and talking about debt is a sign of strength, not failure. When in doubt, Stepchange remind you to  ‘TALK’ Tell the right person Allow yourself time List your key points Know that help is available How comfortable do you feel talking about money? Only 23% of our customers felt comfortable talking about money before seeking help from us compared to 81% of our customers felt comfortable talking about money after seeking help from us.

Mental Health and Debt

With 91% of our customers stating that their debt had an impact on their mental health, it’s clear that problem debt and mental health are linked. Taking the first step in seeking debt help can also be the first step towards improving mental health. 65% of our customers stated that the fear of being judged and feeling ashamed & embarrassed about their debt stopped them from seeking debt help sooner. Understandably, the stress, anxiety and embarrassment that comes with unaffordable debt will negatively impact mental health. Rest assured that over 90% of our customers said their mental health improved since they entered into a debt solution. By having a conversation about your debt, you can improve your physical, mental and financial wellbeing. It isn’t easy talking about money and debt.  If you are looking for debt advice, the Trust Deed Scotland^® team of experienced debt advisers will discuss your circumstances with you confidentially and without judgement.  

Who uses formal debt solutions to manage debt in Scotland?

  We are rated No.1 in Scotland for debt advice, with over [reviews] five star reviews on TrustPilot. You can read reviews from some of our customers below… Trust Deed Scotland^® is Scotland’s No.1 Debt Solutions provider, specialising in Protected Trust Deeds and the Debt Arrangement Scheme (DAS)¹. “I felt ashamed and desperate when I approached Trust Deed Scotland. I felt there was no way forward for me and this was exacerbating problems with debt. Scott contacted me and from the outset was clear, supportive, non-judgmental and highly knowledgeable. He took time to get to know my position, debts and outgoings and gave me clear and insightful information on all the options available to me. I felt safe in his hands. He talked me through the pros and cons of each option. I opted to enter into a Trust Deed which will reduce my monthly payments by some 70% and write of a large portion of my debt. More than this, the interest on my debt which would have risen considerably has been stopped. The entire process took no more than 7 days from first contact to signing the Trust Deed. I cannot recommend Trust Deed Scotland highly enough. Thank you, Scott. I am forever grateful for the advice and care shown and for taking care of everything so expertly and with understanding.” – Tracey   “I was in a situation where I could not see any hope in my future financially and was severely damaging my mental health. Trust Deed Scotland has literally saved my life. Gave my wife her husband back and gave my kids a happy dad back. For that, I’m truly grateful. Please if you can relate to this, please don’t hesitate to contact them. Thank you Gemma & Jason.” – Thomas   “Found myself in a bit of a rabble with debt and contacted Trust Deed Scotland to see what I could do probably the best phone call I’ve ever made. I spoke to Barry who listened intently and then came up with a plan for me with a trust deed, he spoke me through all the options and kept me informed constantly about what was happening next. If you find yourself in a situation with unaffordable debt then you should seriously consider calling them the service I received was second to none and non-judgmental which was very helpful as if like me you feel embarrassed to talk to someone, then don’t! Just call them and get rid of a helluva lot of stress from your life..” – Paul   “I’ve spoken to a few companies who called after being turned down for a loan. I never believed the information they were telling me. pushing me for Sequestration. I had to Google that one. I came across a Trust Deed Scotland video on Facebook and it finally hit home. Maybe there was a way out of debt. I watched the video over and over listening to every word of the Podcast, so much better than reading all these terms I’d never heard of. Well done Tommy. I reached out and within hours got a call. That changed everything.i didn’t even know my debt level or who I owed money to. Tommy listened and explained all my options and with his experience I was able to decide on the correct path. A trust deed wasn’t for me. I had a lot of guilt about not paying back what I had spent. I would also add, I had nothing to show for the credit I’ve used. I went for the Debt Arrangement Scheme which allows me to pay everything off but over a longer period. The plan is now set up and sent out to creditors. Without Trust Deed Scotland and Tommy explaining everything, I don’t know what I’d do. I now have a detailed plan, 1 monthly payment and paying back all my debts. I’ve finally reached out to family and stopped hiding away from everything…” – Roy If you’re a bit unsure of how it all works, you can listen to the Trust Deed Scotland Customer Podcast like Roy did, as a first step.   

Take The First Step Today

Taking the first step in dealing with unaffordable debt is often the hardest part. To make that step easier, you can get in touch with us over a range of platforms; choose the best solution for you and get back in control today. For confidential, non-judgemental and friendly advice, contact us via our WhatsApp Debt Advice service, or to quickly check the debt solutions you may be eligible for, use our Trust Deed Wizard^® tool. Alternatively, call us on 0141 221 0999.

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¹Scotland’s No.1 Debt Solutions Provider. Trust Deed Scotland® is Scotland’s No.1 Debt Solutions Provider, specialising in Protected Trust Deeds and DAS. Here’s why: In Scotland, Between 1 Jan 2024 and 31 December 2024 a total of 5,123 people entered into a Protected Trust Deed, 2,501 people were awarded Bankruptcy (Sequestration) and 5,309 people were approved for a Debt Payment Programme under the Debt Arrangement Scheme. These statutory debt solutions total 12,933 people. During this same period, Trust Deed Scotland® (Harper McDermott Ltd) had 1,536 Trust Deeds gain protection status, had a further 1,607 approved Debt Payment Programmes under the Debt Arrangement Scheme, and a total of 0 Bankruptcies awarded. With a total number of 3,143 formal debt solutions approved during the period, this makes Trust Deed Scotland® (Harper McDermott Ltd) the leading provider overall. Informal debt solutions such as Debt Management Plans are not included in these statistics. More information on these statistics are available from the Accountant in Bankruptcy.

The 10th of October marks the annual return of World Mental Health Day. The World Mental Health 2025 theme is about doomscrolling and  ‘access to services – mental health in catastrophes and emergencies‘. The theme highlights the importance of people being able to protect their mental health in times of global instability. Doomscrolling refers to the habit of continuously consuming negative news or distressing online content, often through social media or news apps. While staying informed is important, constant exposure to alarming headlines can heighten anxiety, stress, and feelings of hopelessness. Recognising this behaviour and setting healthy boundaries around media use can make a big difference to our overall wellbeing. The world is going through challenging times, but many of us are also carrying deep personal pressures in addition to global uncertainty.

Doomscrolling and the debt cycle

Many people turn to social media as a distraction from financial stress, endlessly scrolling to take their mind off money worries. Typically, this “doomscrolling” can deepen those worries. Social media algorithms tend to surface content based on what we already engage with. So, if you’re anxious about debt, you’re more likely to see posts about financial struggles, cost-of-living, or budgeting challenges. Instead of relief, this can amplify guilt, anxiety, and hopelessness, feeding a vicious cycle harder to escape. The real relief comes not from distraction, but from taking real action. Even small steps can help you regain control of your mental wellbeing. Debt does not define you; choosing support does.

How does financial difficulty affect Mental Health?

A common cause for mental health struggles is financial difficulty. Struggling to afford the essentials and to stay afloat financially is often linked to heightened levels of stress and anxiety. As financial difficulty escalates, unaffordable debt can build up. Here at Trust Deed Scotland^®, we hear from people across Scotland who are struggling to keep up with repayments to their debts. It is common for the people that speak to us to link mental health struggles to their debt; often discussing a lack of sleep caused by worrying about their financial future and experiencing stress caused by their debt. In our most recent survey, we found that:¹

• Over 91% of Trust Deed Scotland^® customers told us that they lost sleep worrying about their debt.
• 91% of our customers told us that debt had an impact on their mental health before entering into a debt solution, with many specifically affected by stress and anxiety.
• Many of our customers said that they have stress or anxiety.

 

Let’s talk about it

  While conversations around mental health have become more common, stigma still exists, and it often extends to discussions about debt. In fact, 50% of our customers told us they waited a year or more before seeking debt advice because they felt ashamed, embarrassed, or feared being judged for their financial situation.¹ As difficult as it may feel, it’s important not to be too hard on yourself over debt. Many people across Scotland experience financial difficulties, and feelings of shame or embarrassment can take a toll on your mental wellbeing, often making the situation even harder to manage. The best way forward is to speak with an experienced debt adviser who can help you find the right solution for your circumstances. Taking that first step with Trust Deed Scotland® has already helped over [volume] people in Scotland achieve a fresh financial start. Last year, the theme put forward by the World Federation of Mental Health was to raise awareness about mental health in the workplace, a reminder that open, honest conversations are the key to breaking stigma and improving wellbeing, both at work and at home.

What our customers say

Heading over to our TrustPilot page, containing thousands of Trust Deed Scotland reviews, our customers say things like… “I phoned Trust Deed Scotland after struggling to manage the mountain of debt I’d got myself into. My adviser was Matthew, and I honestly can’t recommend him enough,he was absolutely fantastic. Everything was clearly explained to me: all my options, the pros and cons of each, and the process involved with the option I chose. I was kept fully updated throughout, which really helped put me at ease as I was very anxious about entering into a Trust Deed. I genuinely can’t recommend Trust Deed Scotland highly enough as they’ve taken so much worry and stress out of my life and changed it for the better. My only regret is not contacting them sooner. – Caitlin  

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“The hardest part was picking up the phone, but once I did, it felt like a huge weight had been lifted off my shoulders. My debt was getting worse and worse, and so was my anxiety. After I spoke to Barry for the first time, he put me at ease, and the process after that was great. I gave him the information he needed, and within a couple of weeks, he had everything set up for a payment plan I can actually afford.” – Steven  

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“I filled in an online form and was contacted by Sharon. I wanted some advice, and we explored the different options before deciding that a Trust Deed suited me best. I was still unsure about going ahead and voiced my concerns, but Sharon explained everything in detail, including the benefits and helped me realise it was the best way to get a fresh start. Now I only have one payment a month and no stress attached to it.” – Michael  

Contact Trust Deed Scotland^® for Debt Help

Tackling your debt can be the first step in improving your mental health. In a recent survey, 90% of Trust Deed Scotland^® customers told us that their mental health improved after they entered a debt solution¹ Our team of experienced debt advisers provide you with tailored, non-judgmental, understanding and supportive debt advice – as cited by many of our customers on TrustPilot. Find out more about debt advice from Trust Deed Scotland^®. Talk to an experienced adviser today by calling 0141 221 0999. Get in touch with the team on the Trust Deed Scotland^® WhatsApp Debt Advice service.  

Support Services for Mental Health

We understand that although mental health struggles can be closely related to debt or could even be the direct cause of it, you may need to get in touch with people who are trained in mental health support. Please follow the links below if you feel it is appropriate for you. Discover more links to additional support services here. Call Breathing Space on 0800 83 85 87 for free. Visit the See Me website for the relevant contact information. SHOUT provide 24/7 support via text message. Text ‘SHOUT’ TO 85258. Call the Samaritans on 116 12 for free, 24/7.

Visit the SAMH website for support. Last year, the theme put forward by World Federation of Mental Health was to raise awareness about mental health in the workplace.

¹November–December 2024 Trust Deed Scotland^® customer survey with 2,705 responses.

From 13th May – 19th May 2024, the UK-wide campaign by The Mental Health Foundation aims to spread awareness to the nation about our mental health, ways to improve wellbeing on a personal level, and how to get help for mental health if someone is struggling. In our most recent customer survey, almost 91% of our customers told us that debt had an impact on their mental health before entering into a debt solution¹. We hear from many of our customers that their financial worries lead to stress, anxiety, and difficulties with sleep For Mental Health Awareness Week 2024, the theme is movement. If you are struggling with unaffordable debt, we want to empower you to take action sooner rather than later. With a clear plan to get your finances back on track, the stress and anxiety that comes with having debt can fall away; leaving you to focus on the things in life that are most important to you. In fact, 89% of our customers told us that their mental health improved after they entered into a debt solution¹. We hope that this article can illustrate the link between debt and mental health, spread awareness to people who are struggling with unaffordable debt that they are not alone, and finally to empower people who are dealing with problem debt to reach out for debt advice.  

Mental Health in Scotland

Since 2020, Scotland’s average mental health has been declining, with little evidence to suggest that the effects of 2020 are lifting yet. The Scottish Government’s most recent report found;

• An increase in adults feeling lonely ‘most’ or ‘all of the time’.
• A steady increase in adults reporting two or more symptoms of depression.
• A significant increase in adults reporting two or more symptoms of anxiety.

Scotland’s mental health has been reportedly suffering since 2020, with the cost of living crisis causing additional detriment to the nation’s mental health. Nearly half of Mind’s research respondents said that their mental health was negatively impacted due to the current cost of living. There are various reasons to feel an impact on your mental health. A common cause of mental health issues is financial difficulty; often linked to heightened levels of stress and anxiety.  

The Link Between Mental Health and Problem Debt

There is a stigma attached to having financial problems, and even more so when struggling with problem debt. This stigma can cause people to keep quiet about their financial struggles. In a 2023 survey, almost 50% of our customers told us they waited a year or more before asking for help with their debts¹. However, in Trust Deed Scotland^® TrustPilot reviews, many of our customers say they wish they had reached out sooner than they did. When left alone, financial problems can expand to affect other areas of life such as relationships, social life, physical health and mental health;

• 46% of people dealing with problem debt are also reported to have a mental health issue.
• 86% of people who experience mental health problems said that their financial situation had caused issues to their mental health.

 

The Cycle of Mental Health and Financial Difficulties

Financial struggles and mental health problems are interlinked. The impact that financial difficulty has on your mental health, and vice versa, makes this a difficult cycle to get out of; as one worsens the other. Across the UK, it has been reported that;

• People with both depression and unaffordable debt are 4.2 times more likely to still have depression 18 months later compared to people without unaffordable debt.
• 63% of people with mental health problems find it harder to make financial decisions whilst struggling with their mental health.
• 42% of people avoided paying bills during moments of bad mental health.
• 38% of people took out loans while struggling with their mental health that they would not have taken out if they were not having mental health problems.

It’s clear that whilst struggling with mental health, making financial decisions becomes much more difficult. Many people make decisions that detrimentally affect their long-term finances, that they wouldn’t had made if experiencing stable mental health. Once these financial decisions are made, it is likely to cause further impact on mental health; finalising the cycle between mental health and problem debt. When money is tight, people are likely to cut back; such as socialising less and spending less on purchases/ experiences that they enjoy. As well as cutting back on essentials such as heating and food. This has an obvious effect on mental health. If you think you may be in this cycle, there is help available. We have helped thousands of people across Scotland to resolve their debt problems; in turn, improving the mental health issues caused by their unaffordable debt. You are not alone.  

Mental Health and Employment

People with mental health problems are found to have more challenges when it comes to their employment compared to people without mental health problems. For people in the UK, it is reported that;

• There is a difference of £8,400 less in median gross annual income for people with anxiety and depression compared to people without anxiety and depression.
• 48% of people with mental health problems were reported as employed compared to 79% of people without mental health problems being in employment.
• People with mental health problems are more likely to be employed part-time; 37% compared to 24% of people without mental health problems.
• 37% of people with mental health issues are employed in the 3 lowest-paid occupational groups, whereas this is only the case for 26% of people without mental health issues.

When budgeting a smaller income, it is much more likely to struggle to keep up with living costs and to fall into problem debt. If you are coping with unaffordable debt, we want to encourage you to seek debt advice sooner rather than later.  

“The findings suggest that the economic situation is exacerbating the existing mental health crisis that has been flagged by several reports and studies…”

Professor Craig Morgan, co-director at the ESRC Centre for Society and Mental Health    

Help is Available

Dealing with debt can impact on mental health. If you have debt, you are not alone. We can help. Debt happens, and we will never judge. Trust Deed Scotland^® is one of Scotland’s largest debt solutions providers, specialising in debt solutions such as Protected Trust Deeds and DAS. After entering into a debt solution with us, you can have peace of mind knowing that there is now a plan in place for you to get your finances back on track. We deal with your creditors on your behalf. With reduced creditor contact, this means that you feel the space to breathe and experience less anxiety compared to whilst dealing with initial creditor harassment. We understand that it is not always possible to talk on the phone; for lack of free time, privacy, hearing impairments, or anxiety. So, we offer a WhatsApp Debt Advice Service to ensure that you get the debt help you deserve. At Trust Deed Scotland^®, our team comprises of friendly, understanding and supportive debt advisers. To understand the Scottish debt help that we can provide you, get in touch today at 0141 221 0999 or message us via our WhatsApp Service. ¹ November – December 2023 Trust Deed Scotland^® customer survey with 2,246 responses.

In the annual survey by MaPS released in February 2024, it was found that one of the main profiles for people in the UK who are in need of debt advice were households with children and low incomes, with 73% found to have an annual household income of less than £30,000 before tax. Having and raising a child is expensive; from new clothes and school uniforms each year, to days out and activities to keep kids entertained. The Money Charity estimated that by the end of last year, the cost of raising a child to their 18th birthday in the UK:

• Cost an average of £9,227 a year for a couple to raise a child from birth to the age of 18.
• Cost an average of £12,242 a year for a lone parent family to raise a child from birth to the age of 18.

There are many reasons why parents have built up unaffordable debts such as rising living costs, housing costs and low-paid or insecure work.  

Men’s Mental Health

It can be difficult to open up and talk about having debt repayments. We know that many of our customers delayed seeking debt help because they felt embarrassed, ashamed or afraid of being judged.¹ As well as the stigma around debt, there are stigmas and stereotypes surrounding gender roles as well. In Scotland, men often feel as though they must hide their worries, insecurities and stress to appear mentally strong. Within the family, men often feel as though they must be the higher earner and take care of their family financially. If financial struggles arise, it can be hard to admit that help is needed; and, it can be even harder to eventually reach out for this help. It’s important to remember that mental health applies to us all. Although gender differences can play a part; we can all struggle. Women in debt are more likely to open up with their struggles than men, as well as impacted by different factors such as the gender pay gap. We understand that talking about money can be a difficult subject and it weighs heavily on many of our customers’ mind before they first approach us. However, as often as we hear this from our customers in our TrustPilot reviews, we also hear about their relief after speaking with one of our debt advisers. Once receiving the tailored debt advice that we can provide here at Trust Deed Scotland®, customers have said that they wish they had reached out sooner. “It’s like a weight’s been lifted off my shoulders. I cannot thank Jacqui enough for everything she had helped me with. Also Gemma who helped me too. I wouldn’t hesitate to recommend Trust Deed Scotland to anyone experiencing the same financial difficulties. You’ve nothing to lose by enquiring. There is no pressure and everything is explained step by step. I wish I had contacted them sooner.” – Steve  

Debt Help for Parents

If you are struggling with family finances, you are not alone. Here at Trust Deed Scotland®, we speak to thousands of mums and dads every year with unaffordable debt and advise them on the best solution for their circumstances. Almost half of our customers have entered a debt solution with at least one child to support.² We can help you manage your debt, so that debt worries and stress don’t have to get in the way of enjoying time spent with family. Creating a stable financial future for your family can be easier than you think. Contact us for debt advice and feel in control of your finances again. “I gave Trust Deed Scotland a call and they were extremely helpful and understanding and made no judgements. Soreena was absolutely amazing with helping me and now that I have a plan, I feel like a huge weight has been lifted and I can start enjoying family life again without worrying about debts controlling my life, best thing I’ve done.” – Jamie   ¹ Survey results taken from November-December 2023 with 2,246 Trust Deed Scotland® customer responses. ² February 2024 Trust Deed Scotland® and Harper McDermott data.  

For Cycle to Work Day 2024, we hope to encourage people across Scotland to reassess their commute to work. As prices rise across the country, there may be an alternative way to get to work that provides strong financial benefits.  

Cycle to Work Day

With an average journey time of 54 minutes each day for people across Scotland, we spend a lot of our time commuting to work. However, as any commuter knows, it’s not only time that we spend on the commute, but a lot of money too. In Scotland, the cost of commuting has been on the rise. Since April 2024, Scotland has seen an 8.7% increase in train fares. And bus fares are beginning to follow; with First Bus announcing new prices in Glasgow starting from the 4th of August 2024. We are experiencing rising costs across the country and in all aspects of life; the cost of commuting is no exception. If you are finding it difficult to keep up with your essential costs such as travel as a result of having unaffordable debt, Trust Deed Scotland ^® may be able to help you. With a team of experienced debt advisers, we can discuss your circumstances with you and help you to understand if any of the formal debt solutions available in Scotland are right for you, allowing you to free up some much-needed cash to tackle the more basic day to day costs.  

Cycle to Work Scheme

This Cycle to Work Day, we are discussing the potential benefits to your pockets when choosing to ditch the cost of public transportation and your car for a new set of wheels. This is especially a great financial choice if you can enjoy the cycle to work scheme as part of your employee benefits. This scheme allows you to spread the cost of a bike and other cycling accessories to make it more affordable. And – you will no longer be at the mercy of the rising commute costs! Find out if you can apply for the Cycle to Work Scheme.  

Cost of Commuting

In findings from Bank of Scotland’s How Scotland Lives study, in partnership with YouGov, it was found that commuters in Glasgow, Edinburgh and the Lothians are most likely to use public transport, with driving as the second most common choice for travel. Looking at the cost of commuting in cities across the UK, Edinburgh was found to be the second most expensive city to commute to behind London. It was estimated that people commuting to work in Edinburgh pay an average of £308.80 monthly which came to 15.82% of the average salary. People in Glasgow were found to spend an average of £178.80 per month on their commute, which came to 9.08% of the average salary. Although commuting to work takes up a large part of our monthly expenses, for many people across the country it is a necessity. Cycling to work can help reduce or eliminate this cost.  

Mental Health Benefits of Cycling to Work

It’s clear that cycling is physically beneficial; it’s great for the heart, lungs and overall physical health. On top of this, regular cycling can also help with mental health; with the potential to reduce anxiety, stress and depression. We know that mental health issues and financial difficulty are often linked. In our most recent customer survey, almost 91% of our customers told us that debt had an impact on their mental health before entering a debt solution¹. We hear from many of our customers that their financial worries lead to stress, anxiety, and difficulties with sleep. By cycling to work, you can improve not only physical health but mental health and financial strain as well.  

Financial Benefits of Cycling to Work

There is a great potential to save money on fuel, parking and wear-and-tear on your car by saving it the trip to work and back. And, with public transportation costs on the rise, switching to cycle to work can decrease your monthly commute expense. In 2022, it was found that 75% of employees travelled 10 miles or less to work. Depending on your distance – and the UK weather! – we know that cycling to work won’t always be an easy choice. However, simply cycling every so often will still bring your commute costs down. The more you cycle, the more you can save, with the potential to reduce your annual expenses by £1,262.  

How To Cycle to Work

Getting started on your cycle to work journey can feel daunting, not unlike any change. So, read below for some tips on how to get started.

Plan your Route

Whether you know the area well, or you’re unsure of the best cycle routes, planning your journey is the best way to get started. CycleStreets.net provides you with a choice of cycling routes; showing the various elevations on the route as well as the average traffic and crossing delays.

Test Cycle

Before cycling to the office, we recommend trying out your route on a day with no time constraints. This means that you can take your time and reassess your route if necessary. Ideally, the weekend is great to test your route for the first time. If you’re still unsure on how to get started, research more cycle to work tips and talk to co-workers or people you know who already cycle to work.   ¹ November – December 2023 Trust Deed Scotland® customer survey with 2,246 responses.

Around 300,000 families with children are living in poverty in the UK, despite all parents being in full-time work. Recently published statistics by Action for Children demonstrate the extent to which families across the UK are struggling to make ends meet. This highlights that, although being employed in full-time work, there are still a high number of people struggling with family finances.  

Family Debt Statistics

The research from Action for Children found that:

• The average low income family with all parents in full time work would need an extra £168 a week – equating to working an additional 19 hours per week – to make ends meet. 28% of low-income families would need an extra £300 a week, or over £15,600 more on an annual basis in order to get their family out of poverty.
• Over 41,000 (14%) of the 300,000 low-income families working full-time are trapped in poverty due to at least one self-employed adult with very low or negative earnings. In comparison, 5% of Trust Deed Scotland^® customers are self-employed.
• Higher housing costs impact low-income families working full-time. With an average payment of £28 per week more required compare to other households with children. Although reduced housing costs would help with finance challenges, this wouldn’t be enough to solve their debt problems. Assuming these housing costs were taken away, 39% of low-income families in full-time work would still struggle with finances and be in poverty.
• 46% of the 300,000 low-income families working full-time are single parent families.
• Alongside all parents increasing their working hours, Action for Children’s research found that many families had additional barriers to work. With 19% of families including a disabled adult, and 17% with a disabled child under 2 years old.

The Money Statistics by The Money Charity estimates the average cost to raise a child in the UK. Their research for February 2024 shows that the cost to raise a child from birth to 18 years old averages at £25.28 per day for a couple; and the average cost for a single-parent family to raise a child comes to £33.54 per day.  

Families with Unaffordable Debt

Here at Trust Deed Scotland^®, we help Scottish residents to find debt solutions that help them and their families become in control of their finances again. We speak to thousands of parents with unaffordable debt and advice them towards the best solution for their circumstances.

• 74% of Trust Deed Scotland^® customers are working full time whilst dealing with unaffordable debt.
• 45% of Trust Deed Scotland^® customers are raising one or more child. Meaning, nearly half of our customers have entered a debt solution with at least one child to support. 25% of which are single, single parents or widowed; whereas 64% are married, co-habiting or in a civil partnership.

Every one of these customers are currently undergoing debt solutions such as a Trust Deed or Debt Arrangement Scheme, providing a plan to get out of financial difficulties.  

Debt Help is Available

Creating a stable financial future for your family can be easier than you think. Whatever help you need, don’t let your debt become the cause of a divorce. If you are struggling with family finances, you are not alone. Here at Trust Deed Scotland^®, we speak to thousands of parents every year across Scotland who are seeking debt advice. There are formal debt solutions available to help; we advise you on these solutions so that you can find a path towards a brighter future for you and your family. Our experienced debt advisers will discuss your situation and provide tailored debt advice to help your family. Get in touch via our WhatsApp Debt Advice service, or quickly check the debt solutions you may be eligible for by using our Trust Deed Wizard^® tool. Alternatively, call us on 0141 221 0999.

Starting on the 18th March, Debt Awareness Week is just around the corner. Organised by StepChange, this week aims to increase awareness of debt and the available solutions for people who are in need of debt advice. This year is the 10th anniversary of Debt Awareness Week, with 2024 to focus on understanding the main barriers that people face when seeking debt advice in Scotland. There remains a stigma surrounding debt; we want people to understand that they are not alone in their financial worries and that there is help available. Problem debt can happen to anyone; by increasing debt awareness and opening up the conversation about personal debts, we hope that we can empower others in similar positions to ask for debt help. Here at Trust Deed Scotland^®, we know that taking the first step in seeking debt help is challenging. With many of our customers saying that they were worried about taking their first step, we want to reassure others in the same position that when they do reach out, experienced debt advisers can guide them towards the best, tailored debt solution.  

Asking for Debt Help

Are you putting off seeking debt help?

Many people with unaffordable debt delay asking for help. The results from a 2023 Trust Deed Scotland^® survey showed that although over 93% of our customers said they lost sleep worrying about their debt, and 91% said that their debt had an impact on their mental health; only 16% sought help with their unaffordable debt straight away, and 27% waited over 2 years before asking for help. Although our customers struggled to cope with their unaffordable debt, many waited before reaching out to a debt adviser for help; finding it hard to take that first step. There are various reasons for delaying the search for debt help. In a 2023 survey, we asked our customers what put them off asking for help sooner than they did:

• 44% felt ashamed or embarrassed about their debt.
• 32% felt they could deal with the situation themselves.
• 5% were concerned about the impact on their credit rating.
• 4% said that they were unaware these types of debt solutions existed.
• 2% thought they had too much debt to get help.

 

Mental Health and Debt

With 91% of our customers stating that their debt had an impact on their mental health, it’s clear that problem debt and mental health are linked. Taking the first step in seeking debt help can also be the first step towards improving mental health. Alongside 44% of our customers stating that the fear of being judged and feeling ashamed & embarrassed about their debt stopped them from seeking debt help sooner, our 2023 survey results also found that almost 60% of Trust Deed Scotland^® customers had stress or anxiety. It’s understandable that the stress, anxiety and embarrassment that comes with unaffordable debt will negatively impact mental health. By having a conversation about your debt, you can improve your physical, mental and financial wellbeing. It isn’t easy talking about money and debt. However, remember you are not alone; MaPS found that 8.1 million (15%) of the UK adult population were in need of debt advice in 2023. If you are looking for debt advice, the Trust Deed Scotland^® team of experienced advisers will discuss your circumstances with you confidentially and without judgement.  

Improved Mental Health

In a 2023 survey, we asked our customers if their mental health had improved since entering into a debt solution. To which, 89% of Trust Deed Scotland^® customers responded that their mental health had improved. With reduced creditor contact, reduced monthly debt payments, and a payment plan towards a brighter future; the debt solutions that we offer provide a light at the end of tunnel. We were extremely glad to hear from our customers that helping them find a solution to their unaffordable debt also led to improved mental health.  

Impact of Debt on Your Credit Score

Some of our customers state that they delayed in seeking debt help due to concern over how a debt solution would impact their credit score. The debt solutions that we offer do negatively impact your credit score however, there are still many misconceptions on what this means and how this can affect you long-term. It’s important to weigh up the pros and cons of each debt solution in relation to your circumstances, which is a discussion our experienced debt advisers will have with you at the beginning of the process. In many cases, the benefits of entering into a debt solution such as a Trust Deed or Debt Arrangement Scheme thoroughly outweigh the disadvantages of credit score impact. To learn more about how a debt solution will impact your credit score. We are rated No.1 in Scotland for debt advice, with over [reviews] five star reviews on TrustPilot. If you are also concerned about the impact of a debt solution has on your credit score, read reviews from some of our customers below…   “…I am currently in 40k or more of debt. Paying over £1000 a month and my debt was getting worse, I was so scared of damaging my credit score that I let it get worse. After seeing these amazing reviews I decided to speak to trust deed and I’m so glad I did!! I am now on a debt arrangement scheme paying £545 a month for only 4 years. If you are hesitant to do it due to your credit score, don’t let that affect you. Because this has literally changed my life and means I will have 0 debt in 4 years. Soreena was so lovely, took her time, contacted my every step of the way and didn’t judge. Hands down one of the most respectful and understanding people I’ve ever spoken to which made the experience so much better” – Lauren   “… The 4 years flew in, and with only annual reviews by Trust Deed Scotland, it was truly easy to forget about the debt. If you are struggling and can commit to the 4 years then I would 100% recommend a trust deed. I am 5 months post discharge and my credit score is stable. 4.5yrs later and I can still hear Danielle’s voice literally lifting the weight from my shoulders and changing my life.” – Laura   “I can’t express enough how much this has saved me, I was in so much debt including loans/catalogues and credit cards (credit cards which would have never got paid off as I was only covering the interest every month). I was terrified to take this plunge but everyone I spoke with was so lovely and understanding it’s such an easy process. I went from spending £900 a month towards my debt to £190, 4 years later I’m totally debt free and can work on building my credit again. I was only 22 at the time of having to go into a Trust Deed, it was scary initially but honestly, if you are in debt that you can’t manage this is the best solution. It doesn’t affect any aspect on your life during those 4 years apart from having a bad credit score (which if you are in lots of debt it’s probably bad anyway), I have just managed to get myself a new car on finance as well so the bad credit won’t affect you forever…” – Amy  

Take The First Step Today

Taking the first step in dealing with unaffordable debt is often the hardest part. To make that step easier, you can get in touch with us over a range of platforms; choose the best solution for you and get back in control today. For confidential, non-judgemental and friendly advice, contact us via our WhatsApp Debt Advice service, or to quickly check the debt solutions you may be eligible for, use our Trust Deed Wizard^® tool. Alternatively, call us on 0141 221 0999.