Managing Money & Debt
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Understand the links between mental health and money, who it affects and what the impacts might be.
Managing your money can be difficult, and your mental health can suffer if you are dealing with money worries like getting into debt, overspending and problems with benefits.
We know that debt can cause a lot of stress and impact on your mental health, but there are always options for dealing with it.
- Priority and non-priority debts
- Bank accounts and debt
- Drawing up a budget sheet
- Negotiating reduced payments to your debts
- Free Debt Management Plans
- Debt Arrangement Scheme
- Informal bankruptcy or a ‘trust deed’
- Formal bankruptcy or a ‘sequestration’
- Write Offs
- Will I be 'blacklisted'?
- What can creditors do if I don't pay?
- Should I tell creditors about my mental health?
- Getting help from a specialist adviser
- Next steps
An elected person can manage your money if you want them to, but it's important to consider the facts before making any arrangements.
Understand the rules around borrowing money, and what options you have if you're too unwell to pay the money back.
Understand how you can pass your money and the things you own to a relative or someone close to you when you die.