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FEATURED | The cost of debt is not just financial

2022 is here and, and setting new goals for the coming periods should be done now, and actioning ought to commence. If there is one thing everyone should think about, it is their personal finances and not just once a year. We are pleased to share an article by Julian Donnelly, managing director of James Rosa Associates, specialising in “tailored financial reconstruction", first published on 7th December 2021. Enjoy!


Each person’s journey into debt is unique, but rarely is it a journey of reckless financial management. Rather a combination of circumstances lead to difficult decisions, resulting in debt and for the individual, the consequences go beyond the financial.

The physical and mental cost

Due to the pandemic, six million people have fallen behind on their household bills, but statistics paint only a small part of the picture. The real cost of debt is the affect it has on people’s physical and mental wellbeing, with half of all adults in debt also living with mental ill health because depression, stress and anxiety often result from overwhelming debt. Sleepless nights, low energy levels and changing moods greatly affect how people cope with day-to-day life.

Changes in mental and physical behaviour can also cause a breakdown in families, the loss of homes and, in the most tragic cases, loss of life due to suicide when the thought of debts becomes overwhelming.

Speaking from personal experience

I’ve told my own story before of how a change in personal circumstances resulted in debt and I’ve experienced the anger of feeling as though I failed, sadness for what I’d lost and the shame of not being able to resolve the problem. Even though I was working hard and was in no way careless with my finances, it is still hard not to blame yourself and feel isolated from friends and family by your debt and it’s this personal experience that informs how I support clients today.

Early in my career, I realised what I enjoyed was talking to people, identifying their needs and finding the solution to resolve their problems. At James Rosa Associates, this is the foundation of what we do every day. There is no one-size-fits-all solution to helping people manage their personal or business debt, so we take the time to understand our client’s needs now and in the future, so that the solutions we arrive at put them back in control of their finances and sets them on a path to a more positive future.

Recognition for award-winning work

This year alone, we have been we’ve been pleased that our approach has been recognised by being named “Financial Reconstruction Specialists of the Year” in the Corporate LiveWire Global Awards, won “Best Insolvency & Personal Bankruptcy Advisory Firm” in the SME News Awards 2021 and in the TRI Awards 2021 were a finalist for “Personal Debt Solution Provider of the Year”.

I like to think that these are a reflection of the personal care we take of our clients in the most difficult time of their lives and of the fact that dealing with debt is about much more than balancing the books.

James Rosa Associates

James Rosa associates is a firm of debt advisors and debt adjustors. With a supportive and friendly approach, we offer a full range of advice and professional services to individuals and business owners/directors who face unmanageable debt or who are involved in civil or commercial disputes. Our services include:

  • Insolvency support

  • Negotiated settlements

  • Personal assisted bankruptcy

  • Mediation

We are authorised and regulated by the Financial Conduct Authority (FRN665061) to work with clients to produce bespoke solutions to fit their specific circumstances.

Find out if you qualify for a free consultation

If you want to deal with unmanageable debt, or bring a dispute to a swift and cost-effective resolution, contact James Rosa Associates, ring 0845 6807217 or email to find out whether you qualify for a free consultation.

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