Problems With Debt And How To Get Debt Advice

People do say, in many walks of life, that your first step to realising you have a problem is admitting that you have the problem. Easy to say and it makes a lot of sense – but a lot of people in society do use forms of denial as a way of avoidance on many subjects.

Debt is no different. It is so easy to assume all is well and that you don't need debt management. Avoidance of the requirement of debt consolidation often falls into 2 categories:

1. Cut spending but cannot make significant inroads into clearing the debt.
2. Completely ignore the debt and continue borrowing on new or existing credit limits.

Both are a clear sign you need help with debt consolidation – however it is clear to see that point number 2 is the worst situation to be in.

Write down what you owe and to whom. Then write down how much you pay on the debts per month. If you think that you're paying too much on unsecured debt then you need to get debt management.

Another step that you should take is to stop borrowing. If you have more credit available on your credit cards – don't spend it – if you do you are spiralling towards more debt and higher monthly payments on this debt.

In times of low interest rates on savings you will save money also if you move any savings that you do have to clear existing debt – chances are you're earning none or very little interest on your current savings.