With the whole world seeming to be at the verge of one of the biggest credit crunches in history, personal debt is at an all time high.
There are houses being repossessed at an exponential rate, and the banks are far more reserved in lending money.
So has the facility for debit consolidation dried up? How are we to pay our debts and get straight, when the lines of credit that we have always taken for granted have now been severed? Well, take heart.
It's true that the initial panic from the banks and financial institutions, saw them withdraw their many facilities initially, but as confidence starts to return to the market, things will undoubtedly improve and become once again buoyant (though maybe not quite as buoyant as before).
Debit Consolidation services are bound to be choosier now, when approving loans.
They have been badly burned in the past (much of their own doing I might add) and cannot afford to take such high risks with bad debtors like they did before.
But there are, even in this market, a variety of banks and institutions that will still consolidate debt and let you get back on track with your finances.
The main thing you need to look at is, do you need a debit consolidation loan or could you actually manage with a personal loan? A personal loan could be used to pay off the immediate and most threatening part of your debt and you could run a program alongside that which would enable you to manage the other less threatening side of your debt.
This way, would undoubtedly take more managing than a debit consolidation loan, but with the financial climate as it is, it may well be that debit consolidation loans are not given as freely as they once were.
A remortgage was always a good way to borrow in order to consolidate debt, but unfortunately, unless you have a lot of equity left in your property, the recent down turn in house prices has well and truly put paid to that avenue.
The important thing you need to do when sorting out your debt problems, is to seek good advice.
No two situations are the same, and everybody needs the best personal advice that is available.
You are not on your own, however much it might feel like it.
A lot of the help available is also free initially.
There are some services that claim they may even be able to get some of your debt written off completely.
If you do one thing immediately, it should be to share your debt problem with someone who can give you good advice.