Debt can affect us in different ways and at different time in our lives. Most home owners are living in debt (literally) with their homes being heavily mortgaged to a level beyond most peoples pay pack abilities. Mortgages are the biggest debt but these types of loans are secured against a property so if you fail to pay your mortgage on time your home could be repossessed to pay your debt.

But what about other types of debt - unsecured loans, bank loans, overdrafts, credit cards or even loans from friends and family? These type of loan are usually not secured against anything that could be sold (like your home) and it is up to you to repay these types of loan on time, or you could be facing bankruptcy.

Okay that's the scary bit over, but what can you do to help you pay of loans, and even better, avoid getting into debt in the first place? Here are a few suggestions to help you deal with your financial blues.