The National Debt Line is a nationwide call-in helpline. It offers \'no-cost\', impartial and private advice to persons on settling debt struggles in the United Kingdom. Their call-in helpline is available all week long and there is also an internet website that has plenty of useful assistance and counsel on it. The National Debtline is part of MAT (the Money Advice Trust, which is a registered charity. MAT (the Money Advice Trust) presents people an ordered method to managing severe personal debt problems in order that they will regain control of their financial affairs.



Before you begin reading this article here is a number of practical definitions. A bad debt is borrowing where what is owed has not been reimbursed subject to the terms and conditions of the lending contract. A debt tends to become bad where it is unlikely that the loan provider will ever recover the money. A bad debt on your file will make it more difficult when you want to get further credit in the future.





A debt management company helps you re-organise your financial situation to help see you out of your debts. However, they generally charge for this service and some even advise obtaining additional credit!



A debt consolidation loan is where you borrow money to pay off present debts. So in effect you are uniting all your existing debts, clearing them with a debt consolidation loan and then making only one payment each month to cover the outstanding balance. You might find that it costs less too, as getting a lower APR loan to pay off a credit card with an outstanding balance amassing interest at high APR is very sensible. In addition there is the psychological factor of having just a single repayment every month to handle instead of multiple payments.



If you are experiencing financial difficulty and have debt problems, then it makes sense to see a specialist for free help and advice. These organisations can help you sort out your finances and even negotiate with your creditors on your behalf.



There are a number or organisations who can help, such as your local Citizens Advice Bureau (CAB); Money Advice Centres or Law Centres (you can find their details in your local telephone book); The National Debt Line (helping people living in England and Wales); and AdviceUK (or Adviceni for people living in Northern Ireland).



You may have to wait for an appointment, so do let your creditors know your situation. Many will be pleased for the involvement of an independent specialist and may not take any further action until an agreement has been reached.



Once you have made an appointment to see one of these organisations, make sure you get together all the necessary financial information that they will require. This will be information such as:



1. details of your income and expenditure and that of your spouse/partner

2. details of any County Court Judgements/other arrears

3. bills

4. credit agreements



By seeking specialist advice, you are taking the first step to tackling your debts.