“Debt” is a word that can spark many different emotions in us. A basic rate taxpayer in debt by anything over £1,000 is likely to feel anything ranging from anxiety and shame, right through to apathy derived from a “well, what can I do?” conclusion on the matter.
Recently, the news that reality TV star Mike Thalassitis committed suicide partly due to his mounting debts has been a stark reminder that debt can sadly take some people to the darkest of places, and destroy lives.
What follows is my own personal experience of debt which I preface by saying has been managed very carefully…