Debt wasn’t something that mum-of-three Yvonne ever worried about.
Having worked in the catering industry for more than a decade, the 33-year-old Wishaw mother was financially stable with a £5,000 savings pot in the bank. She never missed a bill and with a little help from her husband’s income, there was always a little spare cash left over each month to buy treats for her children.
However, an unexpected family event tuned her financial luck into money worries – leaving Yvonne in need of support.
Speaking of her experience, she said: “My husband was diagnosed with kidney disease in 2011 and ended up on a dialysis machine.
“He was left unable to work, so I had no choice but to be financially responsible for our family. I’ve always been a worker and have a steady income but the money I earned didn’t cover all of our outgoings.
“Including taking care of our children, or the hospital visits, I accumulated £12,000 of debt over four years.
“It’s scary how quickly debts can build up. One minute you think you’re in control and the next you’re in a desperate situation. I never thought this would happen to my family.”
When times were tough and money tight, Yvonne turned to credit cards, loans, overdrafts and even home catalogues to cover the cost of day-to-day life, leaving her stressed about managing her repayments. Soon she found herself in need of anti-depressants and anxiety medication in a bid to manage her mental health.
“Living with debt is stressful,” she added.
“I was ashamed of my situation and found it hard to open up to people about my money worries – I had enough to deal with at the time.
“I was at a real low point at home one day when I got in touch with Carrington Dean. The advisor I spoke with made me feel like I wasn’t alone and talked me through a range of solutions for our family’s debt and explained the whole process.
“One unexpected life event can change everything.
“I never thought I’d be in this situation in a million years but knowing that I had somewhere to turn for support and the arrangement has been an absolute life saver. It has made a huge difference to our financial situation.
“Debt is such a taboo subject – no one wants to talk about it but it’s that attitude that can make getting help all the more difficult.
“I hate to think that if I hadn’t answered the phone that day we’d still be in the same situation.”