On and off in the course of a life time people find themselves struggling to cope financially.

The current credit crisis has lead to a majority of people struggling more than at any other time, and it is hard to comprehend that so many people are labouring with financial woes due to reckless lending of lenders which started in America.

The heart of the economic situation started in America due to the reckless lending of the banks and building societies granting loans and mortgages to those who would never be in the position to repay their debts.

The main fault with the lending criteria was that loans and mortgages both to the private and business sectors were granted based on pure self declarations of earnings.

This applied to both private and business customers and many increased their earnings to for example obtain a mortgage to buy the home of their dreams or to purchase a business that they had no experience to run correctly and make an acceptable profit.

The lenders started to struggle just as their customers did and the system became close to collapsing.

This crisis spread to the UK and to other countries, and the UK saw the first lender ever being completely nationalised as was the case with The Northern Rock.

Subsequently many UK citizens lost their jobs or had their working hours cut as a result or the situation spreading to other industries and jobs that in the past were jobs for life were lost one after the other.

Certain sectors of industry suffered more than others, and one type of employment particularly badly affected was of course the banking sector itself.

The construction and industrial sectors were badly affected by the credit crunch and redundancy was rife among their staff, and even those still in employment often started to earn less due to cuts in paid overtime and so on.

This is what has caused the need for debt consolidation,debt help and debt advice in general to become a part of many a life nowadays with many seeking debt advice to deal with the debt problems caused by the drop in earnings.

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