Debt Awareness Week 2026
Life is unpredictable, and sometimes finances take a hit. We understand debt happens, but let’s talk about it and what support exists to help you navigate its difficulties…
Debt happens, support exists. Let's talk about it.
This week is Debt Awareness Week. Each year many organisations across the country take part in helping shed the light on debt and educating our communities about the positives and negatives surround it.
During Debt Awareness Week, we are going to be posting daily blogs and social media posts to try and provide confidence to people to talk to someone about financial pressures or debts, there are always solutions surrounding debt. We’ll include helpful hints and tips, links to guides and there is always further information and support available on our website or by contacting us.
With everything that’s happening in the world and the effect on financial and commodity markets, particularly oil and gas, there is going to be an impact on our household finances. Everyone is going to be affected by the impact of the ongoing conflict in the Middle East, most haven’t recovered from the impact of Covid, Ukraine and interest rate hikes that have occurred in the past 3 years.
Recent polling shows that debt is far more common and stigmatised than many people realise. Of those surveyed, 50% of people in the UK have experienced problem debt at some point in their lives. Modern society and households revolve around credit and breaking bills into smaller, generally monthly, payments. This isn’t to say that credit or its availability and accessibility is bad, however it is important that its use is understood and controlled.
There are lots of solutions and help available to people who worry about finance or are experiencing debt, particularly in policing, however one of the biggest challenges is the perceived stigma associated with debt and our inability to talk about it is one of the biggest barriers to overcome. In the UK, 44% of people who have experienced problem debt stated that they told no one.
Why do people feel that they can't tell family, friends or colleagues that they are struggling with debt?
We often tie our self-worth to our net worth, especially with the influence of social media. There’s a lingering stigma that debt is a failing or a sign of laziness. Many feel that admitting to debt is admitting they’ve ‘failed’ at being an adult, even when the cause is something outwith their control like illness, change of posting or reduction in overtime.
It may be the ostrich effect of sticking your head in the sand and avoiding bank statements, or the fear that seeking help will ruin your credit score, these hurdles often stop people from reaching out, even though the vast majority who eventually contact services like StepChange or Citizens Advice wish they had done so much sooner.
What do we mean by 'problem debt'?
In the UK, problem debt is the point where borrowing stops being a manageable tool and starts becoming an unmanageable burden. You’re likely facing it if your repayments are preventing you from covering essentials like food, rent, or heating, or if you’re using new credit just to pay off old balances.
It’s less about the total amount owed and more about the strain it puts on your monthly financials. Falling behind on priority bills like Council Tax or spending a huge chunk of your income just on interest, problem debt is a huge burden on most, but one that can be lifted with the right professional advice.
It’s important to remember that there are resources and help available should you, or a loved one, be facing financial difficulties.
You can find links to some FREE debt help charities here.
If you are struggling with your SPCU loan repayments, please contact the office using the details below.
Tel: 0141 771 1314
Email: info@scottishpolicecu.co.uk