“I’m in debt because of the pandemic and don’t see a way out”

I am a freelancer and my work has been badly affected by coronavirus. For the first time in my life, I’m in debt – up to my limit on my overdraft and credit card, which I used to pay off every month. It makes me feel sick and panicky every time I think about it and my work situation is not improving. What can I do to get back on track? Name supplied

AI know how hard it feels to open up about debt. I also know you will feel better as soon as you talk to one of the organisations that can help. Having a good credit history ironically means that you have not needed to explore your options before now.

As a freelancer, your personal and business money is slightly more intertwined than an employee or a limited company, so it’s important to get guidance that takes that into account. The charity Business Debtline would be a good place to start. They can talk about specifics such as ‘breathing space’ which means you ask creditors not to contact you for 30 days while you can get debt advice.

Perhaps you could ask a good friend or family member to support you to make the first contact, but only if you can trust them to be supportive and non-judgmental.

Financial worries are stressful, and research says that half of adults with debt will also struggle with mental health, including feeling sick or panicky as you describe. It would be a good idea to talk to your GP. Even if you decide not to seek treatment, you may want to tell your creditors that you are experiencing mental health issues. It is your choice, but it may help with your negotiations.

You’re not the first, last or only person to suffer like this – which is incredibly hard to remember in the middle of the night – but thank you for sharing. You’ll have helped someone else to feel less alone too.