Being in debt myself, I have learnt a lot about the stigma that used to be attached to it. I was worried that I would be outcast by my peers; however this was not the case.

The main thing about struggling with your debts is that it can mount up and get worse. Some people, including myself, will fall into the trap of borrowing to make the payments on more borrowing. This should be the biggest alarm bell you will ever have and the time to get help.

If you only have one or two debts, try being honest with your creditors. Asking for a reduction in payments or a re-negotiation of your credit terms could be considered the first step and even if it is only for a fixed short term period will help you get back on your feet.

If your creditors are not willing to help, then it would be advisable to get advice from one of the many charitable organisations around. Try not to confuse this with the TV adverts that promote miracle debt reduction IVA

Above all though, be honest, do not hide anything (especially if it’s a large stash of savings in a bank account - savings interest is not as high as credit interest) and do not say more than you can really afford as it gives creditors false hopes.