January is one of the busiest times for debt charities, as consumers enter the new year with a financial hangover. Although many people have cut back on their borrowing, the rising cost of living is taking its toll.
According to housing charity Shelter, about 1 million people have turned to high cost short-term loans to meet housing costs. Bills for credit cards and other borrowing will start to go out over the coming days, and could be the final straw for some people's finances.
We are running a live advice clinic on Tuesday 8 January to help answer readers' questions about debt and how to deal with it.
If you feel overwhelmed by your financial situation, need information about debt management plans and the other options open to you, or advice on how to deal with your creditors, Matthew Cooper from advice charity StepChange, and Dennis Hussey, an adviser from National Debtline, will be online to answer your questions.
If your debt is less of a problem but you want to find out if you could pay less for it, our panel may also be able to offer assistance. Finance expert Andrew Hagger can offer guidance in finding the right credit card or loans for your circumstances.
Please post your questions below and our panel will be live online from 1.30pm on Tuesday to help.
