It may feel as though you can’t do much when a situation gets out of control. You can, however, wrestle the wheel back into your own hands. But this takes some time, effort and skill. Perhaps you’re not good at that so you prefer getting someone to help you.

This is why debt management companies exist. These companies can make your life that much easier, if the correct procedures are followed. So instead of borrowing from anyone who comes along you should sit down with a qualified consultant and decide on how to organise your debts.

They will ask you for some details and will do all the hard work for you – for a fee, of course. Do you feel too afraid to negotiate with your creditors? Debt management companies are expert at doing just that. They can knock off many hundreds of pounds on your debt and could even reduce the interest rate that you’ll be paying.

You’ll soon be able to live without worrying about harassing phone calls late at night. As long as you pay the monthly payment to the debt management provider your life will be in order. The company makes payments to your creditors and decide who gets how much.

But make sure that the debt management company is a good one. Do a check on them before you sign up so that you know they are credible.