Debt.org.uk was started in 2009 and aims to provide people who have debt problems with information on what they can do to get out of their financial problems. Updated on a regular basis with debt news, the site is a free debt resource for people looking for debt solutions.

Currently the UK is experiencing a huge personal debt. Taking the latest figures into consideration it stands at £1,463 billion. This is a huge debt and one of the worst aspects of it is the current interest rate on credit cards which has skyrocketed to an average of 18.8%, whether they will stay at that level will remain to be seen.

Many people often enquire about different debt management plans as to which one is best for them. As finances are very much a personal thing, it could be best to talk things through with a qualified debt advisor before committing to something that may not be completely clear.

Some debt solutions require a committment of 4-5 years, which involves alot of discipline to stick it through to the end. Such a debt solution could be an IVA, which, if the debtor fits the criteria of an IVA could freeze interest on unsecured debts for the term of the IVA.

Criteria for an IVA are fairly stringent, such as needing at least £15,000 of debt as a minimum, and the need to live in England or Wales. People in Scotland could look into a trust deed. There are additional criteria for an IVA including being able to afford the repayments, but this should not be a problem for many people as an IVA will put all payments into one outgoing payment every month.

People who fear they may be getting into financial trouble with their debts and whom cannot keep up their repayments may fall into arrears and default. This is never good news, and those who ignore it would not be doing themselves any favours. Debt problems could be dealt with more efficiently with the help of a debt expert, who may advise debtors on what they can do to better their situation.

Recently it was announced that many people are even using their credit cards to finance their mortgage payments or if they are renting, their monthly rental costs. This highlights the scale of the debt problem in the UK and the fact that something should be done to reduce personal debt.

There is a light at the end of the tunnel for those who act now and get the debt help they need, if they need it.