This week is Debt Awareness Week, StepChange’s awareness campaign that challenges the stigma attached to debt. Debt can affect anyone, yet stigma and judgement often prevent people from getting the support they need. Debt Awareness Week aims to
Shine a light on the impact of debt stigma — how and why it exists, and what we can do to break it down
Help people start conversations about their debt worries with partners, friends and family, and
Show how people can take the first steps to getting help
Problem debt is often caused by an unfortunate life event or change in circumstances that leads to a person having less income. This could be through losing a job, having an illness or disability that may lead to loss of income and increased healthcare costs. Loss of income can occur because of a relationship breakdown, or losing a family member. Those on low incomes may have a deficit budget – meaning that they don’t earn enough to cover their basic living costs. Having a deficit budget may force them to rely on credit to pay the bills. Some people find themselves in problem debt because they may lack budgeting skills or adequate financial literacy. Unexpected costs such as emergency home or car repairs can also put a huge financial strain on people’s budgets, leading some to problem debt.
Whatever the reason for debt, the effects of debt are heartbreaking. Many who fall into debt are trapped in an endless cycle of pain, with 90% of CAP clients citing they had sleepless nights as a result of debt, 37% of CAP clients reported having suffered from anxiety and panic attacks, and 40% with depression. If the shame of debt affects a person’s mental health it can be difficult for them to reach out and ask for help.
Many feel shame, and that they will be judged. This can lead to secrecy from their partner or family, and therefore isolation. Fear of the unknown can also be a barrier of reaching out and getting help. Some people may be uncertain of the process and worry about what may or may not happen, and others may fear losing control of their finances and so may resist seeking expert help. There may even be an element of fear of losing control. Practical challenges such as lack of transport, no internet, being too busy or overwhelmed to access services can all be barriers. For some, there is simply a lack of awareness: not everyone knows what free help is available to them. CAP’s approach is designed to address the barriers people face by offering holistic and compassionate emotional support and practical assistance, as well as financial advice.
We can all act to address poverty in our community and it is within our power to help others. By engaging in conversations about debt we can challenge the shame and stigma that surrounds these issues. We can raise awareness of the services that are available, of Ely and District CAP debt help, Money Coaching and Income Maximisation. We can work towards creating a more compassionate and understanding society, and make a positive difference in the lives of those who are struggling. It's not just about providing financial assistance but about empowering people and restoring their hope and dignity.
Romans 13:8 - 10 (NIV)
8 Let no debt remain outstanding, except the continuing debt to love one another, for whoever loves others has fulfilled the law. 9 The commandments, “You shall not commit adultery,” “You shall not murder,” “You shall not steal,” “You shall not covet,” and whatever other command there may be, are summed up in this one command: “Love your neighbour as yourself.” 10 Love does no harm to a neighbour. Therefore love is the fulfillment of the law.
Please pray for all out CAP clients, that the love and support of our debt coaches and visit team alongside financial assistance can help empower and restore hope beyond the debt journey.
Prayer
Please pray for all the team working to raise awareness of the work of Ely and District CAP, and especially for Community Links Coordinator Fiona, that her work can help increase knowledge in our community of the help that CAP can provide, both financially and emotionally.
Please pray for all those completing the Money Coaching course, that they would be empowered with the financial skills and knowledge for a more secure future.
Please pray for the team working on the Income Maximisation process, that this will be another way in which Ely and District CAP can support those in our community with better financial stability.
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