The debt is a crucial factor in determining the financial health of a person. All of us run a debt sometimes or other. The condition becomes alarming when the debt rises to a huge volume. Compulsive spending and misuse of credit cards generally lead to the debt trap; when we suddenly find ourselves knee deep in debt.

The current economic conditions have seen the number of bankruptcy cases touch a new height in UK. There are still lots of pending bankruptcy applications in the UK courts. A person under severe financial debt need not feel lonely or embarrassed. Instead of fighting the battle alone to get out of debts; a person should take the help of a consultant.

The social stigmata attached with bankruptcy do discourage people. The procedure of publishing a person’s bankruptcy details in London Gazette and a newspaper in the locality of the applicant do not help the cause any more. The embarrassment attached with declaring bankruptcy keeps a person withdrawn from the option.

This embarrassment factor coupled with the pride to solve the financial problem alone leads a man to refuse debts advice. A lot of options are to be evaluated before declaring bankruptcy. This refusal to suggestion or advice on debts entangles the person more securely on debt traps.

To get rid of debts, other than bankruptcy, a person can apply for IVS or Individual Voluntary Arrangements, DMP or Debt Management Plans. The financial consultant can provide debts advice and tailor made plans to suit the person’s specific financial needs. To get out of the debt trap it is best to contact a consultant as soon as possible.

The collection agencies continuous phone calls, e-mails and letters already make a person trigger the panic and stress mode. Under such circumstances trying to figure out a perfect solution to the debts alone, is really tough. A professional debt adviser can provide expert advice with practical solutions. The best part is, generally, the financial conditions are kept confidential by the adviser and the person is under no obligation to the adviser for attending the discussion. The consultant will be the best person to judge if bankruptcy is needed and if so can provide the necessary bankruptcy help.