Statistics show that more and more individuals are turning to the use of credit cards to escape economic troubles and the lack of ready cash. However, this is an expensive option when looking for credit. Overall credit card debt has risen by just over 1billion bringing the total amount of credit card debt to just over 55 billion. When combined with unsecured loans the total amount of borrowing tops 238 billion.

If you are one of the many who owe towards this staggering amount, you may wish to consider looking for debt advice. There are ways you are able to restructure your debts and pay them off over time. For instance, you may wish to enter into an IVA as a way of repaying your debts. A debt management team can help you set up an IVA and provide you with all the advice and help needed for you to be able to write debt off. Depending on the severity of your unsecured debts, you might also consider a debt management plan. Again seeking the help and advice with a specialist is essential if you wish to find the most suitable solution to your debts problem.