A recent survey has suggested that it is the woman who is most likely to take matters into their own hands and seek debt advice when they are in debt than men are. However, the same survey revealed that men are more likely to be prepared over the long term than women are. Around 31% of men consider their long-term financial situation compared to 18% of women. Overall, around 63% of individuals now give thought to their situation due to the recession. This is probably due to the fact of wondering if they will have a job in the future and the worry of how they will manage to continue meeting their bills if they become unemployed.

One of the options you may want to consider when thinking about the future and debts is debt management plans. A good debt management plan would allow you to pay off your existing unsecured debts, which may include loans, credit card debt, home shopping catalogue debts and store card debt. Your advisor would get in touch with your creditors and try to get them to agree to you paying them back over the term of the plan. All you have to do is to pay one lump sum, which depending on your circumstances may work out less than what you were paying to each individual creditor.