Useful guides:

If you spend more than you earn then the gap has to be funded from somewhere. If you have borrowed to fill that gap then the interest charges on what you have borrowed will likely increase your spending and therefore, further increase the gap.

If you continue this way and maintain a lifestyle of spending more than you earn then the inevitable conclusion is that you will have nothing left. So the main thing is to ensure you control your spending. The reason why you have got in to debt is irrelevant - the most important thing you can do is get a handle on your spending.

You must take a hard look at your spending and make sure you don't spend more than you earn. Maintaining a simple budget is crucial - click here for help on how to go about this.

If you are not in control of your budget then even if you manage to reduce the cost of your current debts you will inevitably take on more debt and find yourself back at square one.

Dealing with your debt problems

Above all, do not give up hope. There is always an answer to the most difficult of circumstances and always a route to solving your debt problems. It mightn't be easy or quick, but the sooner you take your debts on, the easier it will be.

The solutions for dealing with debt are wide and varied and the guides to the right of this page can usefully take you through some of the main things for you to consider.

Debt counselling

If you are struggling to cope with dealing with your debt problems yourself then you may want to consider approaching a non-profit debt counselling service. Such services involve a one-on-one session with someone who is there to help you, not to make money out of you.

Debt counselling services use a variety of techniques to help you with your problems. It could involve negotiating with your creditors to freeze interest, you may be put on a debt management plan they negotiate with your creditors, or you may be recommended an Individual Voluntary Arrangement or even bankruptcy depending on your circumstances.

The important thing is that they will tailor their services to your personal circumstances and at least show you how to prioritise your most important debts to feed your family and keep a roof over your head. They should also help you to focus on budgeting, maximising your income and minimising your outgoings (which actually aligns to the structure of this website).

Such counsellors are not judgmental; their desire is to help you sort out your problem and guide you in the right direction. If nothing else, then they are someone to talk to and support you as you face your difficult situation. Use the links to the right or why not challenge your local church to help you - after all, isn't that what they are there for? Right thinking churches will have people there who can support you and help you through your problems. Refer them to this site if they need some direction.

Watch out!

Watch out for companies who offer ‘free’ help - no profit making company is going to do anything for free – there will always be some angle to sell a product to you and make profit. Make sure you understand if they are a charity offering an impartial service, or a company with a motive to sell you a product and charge you a fee.

Above all, try to avoid the debt help, IVA or loan consolidation companies that advertise on the television or in newspapers. Their job is to make money out of you, and whilst in the short term they may create plans for you that look as if your payments are lower, in the long run you will end up paying a lot more for a lot longer. Avoid them.

Finally, if you have got involved with a loan shark then you may call 0300 123 3311 for confidential help, support and advice.