He added that some of the major banks are putting some money into research for a new national network.
The meeting has been prompted by research from Citizens Advice Bureau (CABs) showing a big increase in inquiries from borrowers struggling to cope.
Consumer Affairs Minister, Dr Kim Howells, is calling for a national helpline to be set up in association with the UK's major banks to offer advice to people in financial crisis.
Advisers have seen examples of borrowers on modest incomes owing hundreds of thousands of pounds on up to 20 different credit cards.
Ministers believe lenders should do more to check customers can afford further borrowing.
There is also concern that some lenders are too aggressive with their marketing.
Small print
While some advertise interest rates as low as 2.9%, those rates can climb to 17% when the borrower starts to spend money.
The government wants voluntary guidelines to prevent the true rates being buried in the small print.
"The summit will set out concerns and demand action," said Dr Howell.
"It's become a major concern to almost everyone, not just the people who are out there trying to give advice and ways out of this sort of debt.
Huge profits
"Also MPs, who see their constituents coming to them in increasing numbers saying, 'How on earth am I going to get out of this situation?'
"We need to know where it originates, is it because of new products, for example?
"There are 17-year-olds with temporary jobs earning £5 an hour managing to obtain £1,500 loans and Visa cards, who end up owing £2,600.
"We want to know how these situations arise."
He added that some of the major banks are putting some money into research for a new national network.
"Given some of the huge profits they have earned over the years, they will be ready to put some money in," he said.
"If they don't ensure people don't get into crazy levels of debt and get into big trouble as a result, they're losing customers and potential customers."
The Debt Summit will be held in central London on Monday.
Representatives from the National Consumer Council, British Banks' Association, Which?, Consumer Credit Association, Council of Mortgage Lenders and the Consumer Credit Trade Association are attending.