My Son is in Debt How Can I Help? 

Are you worried because your son is in debt? Don’t fret; you’ve come to the right place.

Every month, more than 170,000 people come to our website for advice on debt problems, just like yours. We’ve got a lot of knowledge to share with you.

In this article, we’ll help you understand:

• How to spot signs of your son being in debt.
• How to talk to your son about his debt.
• Ways to help your son reduce his debt.
• Options for helping your son with his finances.
• Legal ways to wipe out some debt.

We understand how hard it can be when someone you care about is struggling with money. Our team has been in your shoes, so we know what you’re going through.

Let’s take this journey together and discuss your options.

Signs of debt problems

It’s not easy to know if your son has a debt problem, especially if they no longer live with you, but there could be some signs that they do. Look out for:

1. Selling one of their assets without good reason, such as selling their car
2. Withdrawing from social occasions
3. Behaviours associated with anxiety and depression
4. Getting overly angry, especially at sporting events and results
5. Receiving lots of calls or texts that decrease their mood
6. Noticing lots of unopened letters at their home

How to ask your son about it

Of course, there is no way of knowing for certain if your son is in debt unless they tell you. It is best to first ask them by sitting them down and asking if something is wrong, rather than directly asking if they have a debt. 

This gives your son the opportunity to explain what’s happening and is less threatening to them. You could point out things that make you think something isn’t quite right.

If he doesn’t admit to a debt problem, you could gently ask if he has money problems instead. Don’t try and find out by reading their letters or going through their phone. This could break trust and limit your opportunity to help in the future. 

How can I possibly help?

To help your son out of debt, you might decide to give them money to help pay their debts off. This is a personal decision but you should avoid stretching your own finances or you could create debts yourself. There are ways you can help your son out of debt without giving them money:

1. Be supportive and positive

Having money problems can cause mental health issues, which can then reduce motivation to improve personal finances, making the debts grow bigger. It’s a vicious cycle that your son may be affected by.

To prevent mental health issues or stop them from getting worse, you should provide emotional support and be positive about their financial future. You may find your son is unenthusiastic about getting out of debt, which could frustrate you, but it’s important to remain positive and encouraging at all times. 

2. Create a monthly budget together

Depression and anxiety could make it hard for your son to take practical steps to manage their debt. You could be proactive in helping them make a monthly budget so they can find ways of saving money and making repayments a little easier. This monthly budget can also be used for the next step you can help with – getting them in touch with debt advice to use a debt solution. 

3. Put your son in touch with debt advice

The most important thing you can do to help your son get out of debt is to get them to speak with a debt advisor at a UK debt charity. These advisers provide confidential and expert support to help people get out of debt in the most suitable way. They will assess your son;’s situation and take into account their monthly budget to recommend a debt solution. In some cases, the adviser may even organise and set up the debt solution on your son’s behalf.

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Debt advice: Continue to the debt enquiry form

Advertisement. MoneyNerd is a commercial introducer, not a debt adviser. The Debt Advice Service, a trading style of Pacific Financial Solutions Limited, offers free debt advice with no obligation. If you request an introduction, your details are shared with them so they can contact you.

Some debt solutions have fees and may negatively affect your credit rating. MoneyNerd may receive a fee if you proceed with a debt solution through The Debt Advice Service. MoneyHelper offers free, impartial money guidance and help finding free debt advice.

Ways to give financial help

There are ways you can help your son or daughter financially without having to give them money. Citizens Advice Scotland uncovered that around 50% of young people in debt believed the cause of their debt was not managing their money effectively. Thus, you can help your child avoid future debts by helping them manage their money better. 

One way of achieving this is by teaching them how to budget right. You could help them to create a budget to manage their spending and avoid missing repayments and creating more debt in the future. We have a free budget template sheet you can use. Download it for free here. 

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About The Debt Advice Service

Use the enquiry form to request a call about your circumstances and available options. You decide whether to proceed.

Continue to the enquiry form

Advertisement. MoneyNerd introduces enquiries; we do not give debt advice or recommend solutions. The Debt Advice Service, a trading style of Pacific Financial Solutions Limited, offers free debt advice with no obligation. Complete the enquiry form to share your details and request a call.

Some debt solutions have fees and may negatively affect your credit rating. MoneyNerd may receive a fee if you go ahead with a debt solution through The Debt Advice Service. For free, impartial guidance and help finding free debt advice, visit MoneyHelper.

Available debt solutions

There are lots of debt solutions that can help your son get out of debt, such as a Debt Management Plan (DMP) or Debt Relief Order (DRO). They can make repayments affordable without causing financial hardship, and some will even write off some of their debt. 

Boost your son’s confidence in getting out of debt by showing them our debt solutions page where we explain the many options available.