Most of us owe money to people or organisations most of the time: bills are a fact of life. But occasionally, we may find ourselves swamped by Debts, and can`t see a way of paying them all. But it`s never a good idea to ignore bills. Instead you need to get help to deal with them.

Most Loans that you have which aren`t on a Hire Purchase agreement and aren`t Secured on your home {eg, Mortgages} are called regulated credit agreements.

If you have several Debts, any Loans are 'non-priority' Debts. This is because you can make an arangement through the courts to pay the Loan back at a rate you can afford. Provided you continue to pay what you agreed, and payments are on time, the Creditors cannot use methods like Bailiffs to get your belongings.

If you receive a 'Default notice' from the Creditor make sure you get expert advice, because this means that they can then take cort action against you.

If you are dealing with many Debts there are several ways, using the court's, that you can sort things out yourself.

1. Administration Orders

2. Individual Volutary Arrangement {IVA}

3. Bankruptcy

Here we outline common types of Debt and what the Law says hat you, and the Creditor, must each do when the creditor wants to get the money you owe.

Keith Davies owns many financial sites and can offer Loans help and financial solutions.