I have got over my head in debt with credit card and loan how do I break free and clear my debt? This is a question that thousands of individuals across the UK ask. There are a few ways that you could become debt free and it is essential that you take the advice of a debt specialist who can talk over your options with you.

You could consider an IVA, a consolidation loan or look into debt management plans. A debt management plan could be suitable if you have built up unsecured debts. This means debts such as credit cards, unsecured loans, store card, catalogue shopping e.g. you would not be able to count such as your mortgage or a secured loan. You would need to have debts over 5,000 and you owe to at least 3 different creditors. If this sounds like your situation then you could arrange a plan and pay back what you owe over a fixed period of time.

This means that you would repay just one lower monthly payment which would be spread out over your creditors. Usually you would have to be able to repay around 100 per month to take out this plan. However this could be a lot lower than the combined debts that you are struggling to repay now.