Welcome to Debt Advice Trust Blog

Once you have acknowledged that you have debt, and want to do something about it, what kind of debt advice should you be looking for? Well, there are constantly adverts on TV for debt solutions such as debt consolidation or an IVA for example, but are you being lead in the right direction?

By checking out these few simple tips, whether your preventing further debt or attempting to tackle that more sizeable debt and avoid it spawning into something nasty, you should be back on your financial track in no time.

1.For those who are just in debt: £500 - £2000

Budgeting, budgeting, budgeting &#45 It can't be said enough. If you are trying to reduce a smaller debt then this is by far the most sensible and effective way of doing so. Forget about getting loans to cover debts to cover loans, it all gets very complicated. Simply live within your means, don't spend what you don't have and definitely cut up those credit cards.

2. For those who are that little bit more in debt: £2000-£15000

Attack your debt, like a thing possessed. Don't fear it and definitely do not ignore it, it will not go away and it is your responsibility. Harsh but fair I think you will find! Mentally focus and start with your smallest debt, pay it and get rid of it. Move onto your next debt, a little more then the first but its now your smallest debt, pay it off, move onto the next debt... Bit by bit you can attack your debts and successfully see your debts dissipate under your control, with little more than a positive attitude and a bit of hard work.

3. For those who need debt advice: £15000+

Even if you are £15000+ in debt, there are options available to you. It may seem like an endless up hill struggle but you must stay focused or these debts will end up being with you for life. Get in touch with people who know about dealing with debts and can help you straight away. The Debt Advice Trust is a not for profit organisation that specialises in offering free impartial advice for those in serious debt.

4. For those who need to consolidate their debts into one reduced
monthly payment:

Debt consolidation is a good option for those who are in serious debt but it is maybe not as drastic and imminent as it could be. Always remember that if left unchecked your financial situation could nose dive. Your debts can be consolidated into one easy monthly payment that can help you get back on track. Debt consolidation is about being responsible with your budgeting, managing your debt and making your money work for you.

5. For those who need to take instant but not so drastic action:

An Individual voluntary arrangement (IVA) can be available for people who are £15,000+ in debt. An IVA has a formal presence in the sense it's legally binding and can prevent your creditors from taking legal action against you. So if you feel like you are one step away from the bailiffs' knocking down your door then an IVA may be your best option. Its more discrete and flexible then bankruptcy, as well as giving you that peace of mind you need to start re-organising your finances and getting yourself out of debt for good!