When do I need debt advice?

Debt is usually seen as something bad, and people are often advised to avoid it at all costs. However, not all debt is 'bad'. For example, the only way for most of us to afford a house is to take out a mortgage.

However, debt can easily spiral out of control and become unmanageable - meaning you have borrowed too much and/or can't afford the repayments.

The right debt advice and/or debt solution could help you regain control of your finances and clear your debts.

Am I in too much debt?

If you are unsure as to whether you are in too much debt, then you should ask yourself a few straightforward questions. For example:

- Do I have to use my credit card to purchase essentials, such as food?
- Do my outgoings total more than my income?
- Have my creditors contacted me about missed payments?

If you can answer 'yes' to one or more of these questions, you'd benefit from professional debt advice.

Should I worry about student debts?

If you are a student, the loan you have been given by the Student Loans Company is intended to help you afford essentials throughout your student life - without pressurising you for repayments until you're earning enough. You will only be required to make repayments when your annual salary is £15,000 or more.

However, if your debts are made up of credit cards and overdrafts, then you should try to pay these off as soon as you can, before they gather too much interest.

Many debt management and debt consolidation organisations will offer free, confidential debt advice. An experienced debt adviser will be able to tell you if any debt solutions are right for you.