Wednesday, March 27, 2013

How Can I Persuade My Partner to Seek Debt Help?

If your partner is struggling with debt, it can be hard to know how to best support them through this tough time. It’s an emotionally stressful experience which can place significant strain on a relationship, but there are ways that you can encourage them to change their situation. Here are a few ways that you can persuade your partner to seek help for their debt.

Start Early
Don’t wait until the debt collectors come knocking on your door, the trick to tackling debt is to face it head on as soon as possible. If you’ve noticed your partner is having trouble paying off their credit cards or is struggling to make their loan repayments, it’s better to act sooner rather than later.

Have a talk about credit history, and why it is so important. It’s not just an individual issue, if your partner has bad credit you could both face refusals when it comes time to apply for a home loan. You should start thinking about ways in which you can talk to your partner about their debt problem, so you can both start working on a solution sooner.

Focus on Honest Communication
You need to be open and supportive at all times with your partner, as they will likely find it hard to talk about their debt. However you need to be honest, and explain how their debt problems can impact on your relationship. Being clear and concise will help your partner to admit that they need assistance, and your ongoing support can give them the motivation they need to get started on reducing their debt.

Explore the Available Options
Chances are, if you have noticed your partner’s problem with debt, it may be too late to fix it yourselves. Consulting a professional debt solutions agency such as Fox Symes can give you a range of options. From budgeting aid to assistance with organising a loan for debt consolidation, they can help your partner to regain a feeling of control over their finances. The sense of empowerment they will get from reducing their debt will take a huge strain off your relationship.

Support Your Partner Throughout
The road to becoming debt free is not an easy one, and requires hard work and dedication if it is to work in the long term. Your partner will have to change their spending habits, cut down on luxury items, and may feel like they have very little extra to spend. Make sure that you are as supportive as possible during this time, as your encouragement can make all the difference.

Focus on the positive improvements, but don’t be afraid to openly discuss the challenges either. If your partner feels like they can trust you not to be judgemental, they will allow you to help them through this difficult time.

Discussing your finances is hard, and discussing debt is even harder. Getting your partner to seek help for their problem with debt requires honesty and good communication between the two of you. However with your support, and the help of Australia’s leading debt solutions specialist, your partner will be back on their feet and enjoying life debt free. Contact Fox Symes for information on how your partner can lead a debt free life for good.
Written by Emma Jane

1 comment:

  1. Most of the people aren’t comfortable discussing their financial situations, especially if they are in a debt crisis. Many try to seek professional assistance to pay off their huge debt loads, while others may not be willing to trust a third party organization so much. In that case, a partner or a spouse can be great companion who can motivate you and show you the way to live a debt-free life. Above everything else, partners can share the emotional strain that a person goes through when immersed in debt mess. Besides, mutual efforts may make budgeting and maintaining personal finance seem easier.

    Stacy Barbee
    Financial Writer
    Oak View Law Group