Where to look for a Debt Management Solution

When you are floundering in debt it is hard to see the wood for the trees.

It's all too easy to panic or worse, try and pretend it isn't happening to you. Ignoring debt will not make it go away. And panicking is about as useful as chewing bubble gum. There is help out there and you should not try and carry the burden by yourself.

1. Admit you have a problem

   Being in debt is a far cry from being an alcoholic but like an addict, the first step you need to make is admitting you have a problem. Once you confront the reality of your situation, you can then take steps towards finding a solution for debt management.

2. Research

   There is a wealth of information on the internet to help you choose the most suitable debt management solution. It is well worth reading around the options available to you to help you work out the best way forward. Each person's situation is unique and so the solution for your debt management will be unique too.

   Ensure you use reputable sources, such as independent financial advisers who are not biased to a particular financial product or service. Poor advice driven by a quest for profit is something you should be wary of.

3. Speak to the experts

   Once you have gathered all the information you can, it is a good idea to speak to an independent financial adviser. Even if you have a grasp of each debt management solution and the options available to you, it is often useful to get an objective perspective. Financial advisers could also pick up on pitfalls or loopholes which you had not considered.

   If you are in debt, the last thing you want to do is pay for help to get out of debt! Don't. There are plenty of free services available that offer debt counselling.

Remember :

• Your debt will not go away; tackle the problem before it escalates further.
• Debt can cause huge stress and even depression - don't keep it to yourself - it is important that you tell somebody.
• If you can not tell a member of your family, there are a number of charities or independent financial advisers who can help you cope with the stress and help you work out a debt management strategy.

By law, most financial services in the UK must be authorised by the Financial Services Authority (FSA). If you are looking for an independent financial adviser to help choose a debt management solution, ensure the firm has FSA authorisation.

For debt management solutions visit MRA Business Solutions at www.mradebthelp.co.uk, or call 0800 612 92 23.

For independent financial advice, visit our sister company Mike Robertson Associates at www.mraltd.com. You can email an independent financial adviser for professional help, or call 0870 803 1995.

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