If you are in debt, you are not alone. Most survivors of domestic abuse experience financial abuse and have debt as a direct result. Debt can feel crippling, even suffocating at times, but it is possible to eliminate your debt over time with a well thought-out plan. The following are actions you can take to learn about, manage, and reduce your debt.
Managing debt
To learn more about how to reduce your debt, we recommend viewing the Allstate Foundation’s online module Saving for the Future and Managing Debt (PDF version available here). This course is part of the Allstate Foundation’s Moving Ahead Curriculum, an educational resource designed to help survivors achieve financial independence and rebuild their lives. Topics in this course include:
- Determining your assets, resources, and liabilities
- Payment strategies for reducing debt
- Making ends meet
Another resource available to you is the FreeFrom webinar, “Strategies to Manage your Debt,” which covers similar topics covered in the Allstate Foundation’s course, in video format. Click on the following link for the video.
Need more support?
If you have immediate money concerns, we recommend reading our module “What cash assistance is available?” Cash assistance programs can help you reduce your monthly costs, ensure that basic needs like food and housing are met, and provide an alternative to taking on more debt.
Also, consider registering for an upcoming "Credit & Debt" virtual finance class. This 90-minute class covers building credit, different loan types, and how they play a role in planning for large purchases.
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