Debt advice for families with children

If you’re struggling with debt, it can feel overwhelming, especially when you’re raising a family. If your debts are adding up and you’re struggling with repayments, you can get help to regain control of your finances.

You’re not alone

Anyone can get into debt. Many parents and carers borrow money at times to help with rising living costs and unexpected expenses.

You might be in debt due to:

  • a change in income, such as loss of work or reducing your hours to care for children
  • a separation or divorce
  • rising costs for things like childcare and school uniforms
  • unexpected costs like home and car repairs
  • expensive events like holidays and celebrations

Talking about debt

It can feel hard to admit to yourself and other people if your debt has got out of control. Sometimes people feel ashamed of being in debt and may try to hide it from people close to them. Having open conversations with your family about money can reduce stigma and stress. You can read our advice on:

No matter how challenging things may feel, there is always a way forward. If your financial situation is affecting your wellbeing, you can read our advice about money and mental health as a parent or carer.

You might find it helpful to talk to other people who have been through similar situations. Try your local children’s centre, family hub or place of worship for information about local family support groups. Support services are there to help you and won’t judge you. They will help you to take steps towards a more secure financial future for you and your family.

Understand and manage your debt

The first step to addressing debt is understanding your financial situation. If this feels daunting, it can help to break it down into smaller steps. You could:

  • write a list of your debts, amounts owed and repayment terms
  • keep a record of your income and essential expenses like bills and food
  • create a budget to prioritise necessary spending with a tool like MoneyHelper’s budget planner or Starling’s budget planner
  • ​​contact your lenders as soon as possible to let them know if you’re struggling to make repayments and ask if they offer a payment plan or can cut or temporarily freeze interest ​
  • prioritise paying debts with serious consequences for missed payments such as your rent or mortgage

Get help with your debt

Debt advice charities offer free support to help you create a plan for managing your debts.

A debt advisor could help you apply for Breathing Space, a scheme that gives you 60 days protection from your creditors while you work out your debt plan. The government website has more information about the Breathing Space debt respite scheme in England and Wales.

You might see adverts for loans to consolidate your debts, while these might look appealing there can be risks and hidden costs. Always speak to an impartial debt adviser before taking out one of these loans.

StepChange

​​​Debt advice and support with debt management plans.

StepChange online advice service

Phone 0800 138 1111, 8am to 8pm Monday to Friday and 9am to 2pm on Saturday.

Citizens Advice

Advice about budgeting, debt solutions, and accessing local support.

Chat online with a debt advisor, 9am to 8pm Monday to Friday and 9:30am to 1pm on Saturday.

Phone:

0800 144 8848 in England

0800 702 2020 in Wales

0800 028 1456 in Scotland

Support is usually available 9am to 5pm, Monday to Friday.

Find your local Citizens Advice (England and Wales)

Citizens Advice Scotland website

Advice NI

Help with debt in Northern Ireland.

Phone 0800 915 4604, 9am to 5pm, Monday to Friday.

Email advice@adviceni.net
Advice NI website

National Debtline

Debt management helpline.

Phone 0808 808 4000, 9am-8pm Monday to Friday.

Webchat, 9am-8pm Monday to Friday, 9:30am to 1pm on Saturday.

National Debtline website

Financial help for your family

If you’re struggling with money, make sure you’re accessing all the financial support you’re entitled to.

You can also get support if you’re struggling to pay for food.

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This advice was written by our experienced Parent Talk coaches. Parent Talk is a free online service for parents and carers, provided by the charity Action for Children. For more advice, message our parenting coaches with our online chat.

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