The first step in taking control of your debt management issues is to understand how much debt you have really got. Chances are, if you are struggling to make your repayments and feel overwhelmed by your debt repayments, you may have a number of different forms of debt.

You might think you know your debt level, but do you really know how much debt you have got? The only way that you could find this out is to take a true tally of all your debts and ask yourself this question: How much debt have I (really) got?

To answer this you are going to have to list the total amount of debts that you have. Make sure that you include all of your unsecured debts such as overdrafts, catalogue debts, store cards, credit cards, student loans, hire purchase and your overdraft. Get an up to date statement from your creditors so you know how much debt you really owe.

You may have a list like this:

Credit Card Debt #1: £2,000
Credit Card Debt #2: £350
Store Card Debt
: £680
Overdraft Debt: £800
Catalogue/Mail Order Debts: £325
Car Hire Purchase: £3,500
TOTAL: £7,655

See how quickly your debt can add up? Even the cards where you think you have very little debt can add up to a very big total!

Now you know how much debt you really have, it is time to do something about it. No matter what your debt level, there are a number of debt solutions which you might want to explore, such as a debt management plan or debt consolidation loan.