Debt Advice for Gay and Lesbian Couples

While there is a rather unhelpful stereotype in the media that depicts the stereotype as wealthy gay male couples who both have incomes with neither having any children, the reality is often quite a bit different. Gay and lesbian people face as much debt as any other people in the UK.

A community funded survey done in Brighton in 1999 showed that most gay couples in that community and in surrounding areas were living on annual incomes of less than £15,000.

An income that low means that a couple cannot save against potential income interruptions or other unexpected misfortunes and that means there can be no real long term financial security. If there is no genuine ability to save for the future then it is quite difficult to plan for a future where uncertainty is the only given.

Debt at this income level can be catastrophic for both partners, leading to needless stress and causing difficulties within the relationship itself, regardless of the lifestyle the couple leads together. If creditors are hassling you or your partner, then it is important not to let things go too far. Gay and lesbian couples face the same financial challenges that all couples face and because of this, they are able to benefit from the same solutions because all people are equal when it comes to financial and legal rights, as well as challenges.

If your debt is still near being under your control then you may want a Debt Management Plan, a sensible solution to re-structuring your payments into a single payment you can afford. More severe debt may require an Individual Voluntary Agreement (IVA) that can help manage debt that’s gone too far. Even a bankruptcy may help if it’s gone so far that repayment is no longer an option for you.

Don’t let debt control your life, seek help online where you can get quality advice from a trained professional.