It feels like we are existing in a bubble at present with isolations, lockdowns and everywhere closed. Some have speculated that coming out of this crisis, whenever that should be, will be both momentous and slightly scary. No one will be quite the same again – with new appreciations of things previously taken for granted and maybe new fears of the fragility of our world. Plus of course the coming to terms with the loss of loved ones or those left traumatised by the events that have taken place.

One thing you can count on – our debts will still be there. Pressure is on banks, credit card companies and all lenders at present, to be understanding and reasonable and allow for payment holidays, frozen interest/charges and affordable repayment plans. But of course, this can’t and won’t last forever. At some point creditors will be looking at lost revenues and themselves wondering how they can survive.

The taxman will still be there for the self-employed and interest charges on debts will kick back in for us all.  So maybe this is a time for reflection. If we know we are going to struggle with debts now may be a good time to familiarise ourselves with options open to us. The pros and cons of insolvency debt solutions – bankruptcy, Debt Relief Orders and IVA’s. And more informal options – Debt Management Plans or personal arrangements negotiated directly with creditors. Plus of course the range of options available to those who reside in Scotland.

And it may be too that we will want to reflect again on our spending habits. At present we are very limited on spending options with supermarkets and online shops our only options. But when things return to “normal” maybe we can survive on less of the luxury things in life – or the ease of the takeaway culture.