I was just listening to a programme on the radio about the British addiction to debt. Some nice upper-middle class people were talking about how they ended up unable to settle their debts – because of their penchant for expensive holidays, drugs and high living. These are extreme cases but there are inducements everywhere you look to take on extra credit and loans for the things you want. When I worked in a job that took me to some of the poorest housing estates I noticed that almost every home had a Plasma TV, even though most were living on benefits. If you see flashy TVs as essential then you need the income to cover them, but so many people seeking debt help have overstretched themselves to buy trashy consumer durables that have no resale value. There are two approaches for anyone with serious outstanding debts in the UK – an IVA, where you pledge to make regular repayments but the creditors only get a proportion of the sum owed, or a debt consolidation loan where you simply pay the debt off over a longer period. I would favour the first one, it actually reduces your commitment whereas the second one lengthens it.