How to Approach a Loved One Who Needs Debt Relief

How to Approach a Loved One Who Needs Debt Relief

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Watching a loved one struggle with their finances can be hard. Bringing up the subject or offering assistance can seem equally hard.

Do not let those you care for suffer for too long.

Read on to find out how to talk to your loved ones about getting debt relief before it is too late.

Realize that Helping is Enabling

When it comes to debt relief, you cannot just throw money at it. Most likely, your loved one got into that situation because of financial irresponsibility. That is not something you can fix just by giving them money.

When approaching your loved one, do not offer to give them money. Your loved ones need to change their approach to finances, or they will end up in the same spot.

Ask and Listen Without Judging

Even the most financially irresponsible person does not deserve to be judged harshly by a close friend. You can try bringing up finances in a discussion, and if your loved one is interested to sharing more about their debt, then you should mention debt negotiation to them without judging their situation.

You may want to ask them if they are OK financially or if they are facing any troubles at work. That way, your loved one will be more prone to open up and talk about their debt situation without you pushing them.

Nobody is Perfect

When talking about debt, it is good to mention your financial shortcomings. That way, you will not come off as judgmental, while giving your loved one the chance to speak up about their bad habits that have led them to debt.

On the flipside, your loved one is probably competent in one or more aspect of making money. Focus on what they did right to help them feel better about themselves and that their financial irresponsibility is reversible.

Give Them Actionable Advice

Nobody likes vague advice. When talking about debt relief, be ready to give specific, actionable tips to your loved one. Some good examples include:

  • Track income and spending
  • Aim to spend less than you earn
  • Make a solid plan to repay the debt, with specific dates and goals in mind
  • Eliminate needless expenses and save on the stuff you cannot avoid

Tailoring the above to your loved one’s situation will help them identify their weak points financially and start doing something about it.

Suggest a Reliable Debt Relief Program

Finally, your best bet to helping your loved one is to get them in a debt relief program.

Debt relief can look like an impossible dream, but here at Effective Legal Debt Solutions, we specialize in helping people get their financial lives back on track.

Contact us today to find out how we can help your loved one renegotiate their debt, get their finances back in order, and enjoy a debt-free life sooner than they had ever hoped.

The Effective Legal Debt Solutions team is comprised of caring, seasoned professionals with years of industry knowledge coupled with personal real-life experience of dealing with debt settlement situations that many of our clients are facing today.