No matter who we are or what our occupation we all live in a society that is driven by debt. Mortgage, utility bills, car loan, plus many other bills that need to be paid each month. But the problem arises when the debt becomes too much and we find we have more money going out than we have coming in.

At some time in our lives we all find that we are struggling with debt, whether it be through loss of job, a change in family circumstances or even just bad money management, we can all find our selves in debt at some point in our lives.
But where do we turn when we find our selves struggling with our finances. These can be worrying times and knowing where to turn to for help can be as much as a worry as the debt is itself.

If you find yourself struggling with your finances what should you do. Firstly don't panic your not the first person to find yourself in this situation and you certainly won't be the last.

Work out all the balances of your unsecured debts, work out your monthly income and your monthly outgoings,if you have more money going out than you have coming in you need to seek help. A debt relief program could be your answer. When looking for a debt relief program its important to know which type of debts qualify.

Debts that qualify are usually unsecured debts, examples of these include credit cards, personal loans etc. Or anything where you have not put something up as collateral.

Secured debts are things like your mortgage or car loans where your house or car are put up as security. If you default on these payments you could lose your house or car.

Which to choose, Debt Consolidation or Credit Counselling.

Consumer credit counseling gives information on avoiding debts that can not be repaid. It came about in the 1980's as an alternative to bankruptcy. It often involves negotiation with your creditors in order to reach settlements on your debts.

With debt consolidation it means taking out a loan and takes longer to pay off, with credit counseling a debt counselor negotiates the amount of money you owe down and is usually paid off quicker than a consolidation loan.

A debt management company could be a good option to go with. They will act on your behalf to negotiate reduced affordable monthly payments. They will look at your monthly income, how much you need to pay your priority debts and unsecured debts. Any amount you have left over they use to offer to your creditors. Once an agreement has been reached with your creditors you pay this amount to your Debt Management Company who then pay it on to your creditors until the debt is paid off.

Don't hide away from your problem the sooner you take that first step in getting help the sooner you will begin to get your life back on track.