5 Signs You’re in Debt Denial


There are some things in life that can be extremely difficult to face up to and debt is certainly one of them. Many people would rather sweep the problem under the carpet or deny that there is a problem at all and just get on with their daily lives instead. When you take this approach though it doesn’t take long for debt problems to get out of control and turn into a much bigger problem. So are you in debt denial? Here are 5 warning signs that could show that your debt problem is bigger than you are willing to admit and perhaps it is time to seek some help.

You refuse to do a budget

So you know you’ve got debts and you’ve come up with a rough figure in your mind about how much they total up to, both in monthly payments and the overall debt. You also know that the money you have coming in may not quite be on a par with the money you have going out each month. Really then you know you need to sit down, grab a pen and do a proper budget sheet to work out exactly what your financial situation is. However, even though you know you need to do it, you won’t because deep down you are scared of what those figures might reveal. This could be the first sign of debt denial.

You borrow from Peter to pay Paul

Do you often or even sometimes find yourself using one credit card just to fund the minimum payment on another? Are you regularly borrowing from friends and family just to meet your debt repayments? If you are regularly going to such extreme measures to fund only the minimum payments on your debt obligations then perhaps it is time to seek a bit of free advice regarding your debts.

You dread the mail

Do you get a slightly nervous feeling when you hear the mail drop through the letterbox? In fact, does your mail often go unopened because you don’t want to face up to the reality of the demands for payments inside? If you find that you have a slight feeling of dread come over you when the mail arrives then there is a good chance that you are suffering from a case of debt denial.

You don’t want to answer the phone

So you won’t open your mail, you won’t answer the door and you’re even scared to answer your phone. Having just one of these debt denial symptoms can be stressful enough but all three? If you are ignoring your phone during the day just because you’re worried about which debt collector will be on the other end of the line then this is certainly not a good sign.

You’re worried each time there is a knock at the door

Have you started peering through the window each time you hear a knock at the door just to see who it is? If you don’t recognise the person, does the door remain unanswered? If you have become that worried that the debt collectors are coming to take your goods away then this is another big sign that you’re in debt denial.

Debt is a Spiral

You may have noticed that the 5 signs of debt denial got more severe as you went down the list. This is because debt is a spiral and the further down the debt spiral you go the more stressful the situation becomes. The key then is to recognise the warning signs at an early stage and seek some free advice before the situation becomes so stressful that it almost sends you to breaking point.

Can you think of any other signs of debt denial?

3 Responses to 5 Signs You’re in Debt Denial

  1. These are true what I have seen working with people. The budget is a big one. Some people think that if they don’t do a budget, everything will work itself out, even though they are overspending more and more every month. Thanks for the great post!

  2. Fortunately I have never been in this type of situation, but I imagine it would be terrible to have to deal with when you finally accept that you have a debt problem and the denial drops away.

    Still, until you own up to your debt things will likely only get worse.

  3. I recognise these signs!

    Luckily, I have changed.

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