£1,460 billion - a staggeringly high number but that's the collective level of UK personal debt according to July's figures. Increased cost of living and the continuing effects of the credit crunch are cited as reasons for such a large level of personal debt.

And things are likely to get worse.....with a VAT increase on the horizon and large-scale job losses expected in the public sector following the latest budget. For many people debt problems need to be faced up to now before things get too late.

If you were to lose your job tomorrow how would you cope? Do you have any savings to fall back on to keep you going? If the worst were to happen how long could you keep paying the important bills (mortgage/rent, utilities) before it all gets too much?

Getting your finances in order is never a bad thing to do. Yes it might be difficult to face, particularly if you are struggling, but putting it off will only lead to more problems down the line. Making, and sticking to, a budget that you can afford will lead to a happier future, even if it means cutting back a little in the short term.

For professional debt advice get in touch with IVA Debt Problem who can help you restructure your debts and even write-off a large proportion of them. With their help even people struggling with debts in the tens of thousands of pounds can look forward to a brighter debt-free future.

If you prefer to take out a consolidation loan we can help you with that. Consolidating lots of smaller high-interest debts with a single lower-interest loan will lead to lower monthly repayments, making it easier to manage day-to-day.