'Brits in debt need to seek advice to help manage money'

People who find themselves struggling to budget mortgage or personal loan repayments should seek help from a debt advice organisation in order to manage their money better, according to Credit Action.

Charity spokesperson Frances Walker said: "It is very important that people should budget very carefully."

She added that although budgeting when in debt is difficult, various online tools can be a big help, such as the Financial Service Authority website.

Ms Walker also advised people to use a money diary to keep track of different outgoing payments to help them see how and where they can save.

According to Credit Action, total UK personal debt at the end of August 2008 had reached £1,448 billion, an increase of £83 billion from the previous year.

Household debt in the UK including mortgages was an average of £59,350, while the average single adult with a mortgage is estimated to owe £30,255.

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