By David Asker

With the average total debt of £58,658 per household in July 2018, based on these figures the total interest on payments over a 12- month period stands at just under £50 billion.

On a more relatable level, the celebrity Katie Price is allegedly three weeks away from bankruptcy. Katie is due to attend an Individual Voluntary Arrangement (IVA) meeting on October 30 we thought we’d look at the steps that should be taken if you owe money and can’t afford to pay.