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 11,000 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.
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.