Debt problems should be hit early

Consumers struggling with debt problems should start the year as they mean to go on by tackling their outstanding debt, according to a national money charity.

Managing director of the debt advice Foundation, David Rodger, says consumers who are facing money problems to seek debt help ahead of what is going to be a difficult 2011.

He said households dealing with financial hardship should perform their own debt management by trying to "trim their spending and look for ways to save and cut down on credit".

Mr Rodger recommends debt should be confronted sooner rather than later.

He says: "Debt problems only get worse over time, so it’s worth asking for help and advice sooner rather than later."

Debt expert Kevin Still says "After seeking professional debt advice it's important to establish whether you feel you're able to self-manage or whether a third party specialist may help in managing the repayment of your debts.

This is especially true if you have many creditors and have struggled in the past dealing with debt recovery action."

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