On Wednesday's programme Paul Lewis put your questions about debt and borrowing to a panel of expert guests.
For many people debt problems occur when a change in circumstance means they can no longer afford their monthly payments on mortgages, credit cards and loans.
Debt charities the Consumer Credit Counselling Service (CCCS) and National Debtline both say that increasing numbers of people calling their helplines, are also falling behind with essential household bills such as council tax and utility payments. Calls to the CCCS helpline rose by 19% in 2009.
Life events such as redundancy, ill health, having children, relationship breakdown or bereavement can easily imbalance the budget, but ignoring debt makes the situation worse.
If you had a question about managing arrears or debts Paul Lewis and guests were here to help.
What can you do if you are falling behind with credit cards, bills or mortgage payments?
How do you prioritise debt and where can you find free, impartial advice?
Can you negotiate with your creditors?
If you have a credit card, is there a cheaper deal and how do you use balance transfers successfully?
Or perhaps you are facing insolvency or bankruptcy - what are the options?
The Law in England and Wales relating to bankruptcy is different to that in Scotland and Northern Ireland.
Paul Lewis was joined by:
- Jasmine Birtles, Moneymagpie.com
- Liz McVey, managing counsellor of CCCS Scotland and Scottish Debtline
- Michael Park, money adviser, National Debtline
Presenter: Paul Lewis
Producer: Karen Kiernan