Putting it quite starkly, I am in financial trouble. My employer has cut all my overtime and i cannot make ends meet. I am worried that if i speak to a debt company that will serve to get proceeding going that will result in us loosing our home. What should i do?

I'm sorry to hear of your financial problems - but remember you are not alone. Many families have had their income cut in this recession.

The most important thing is do not stick your head in the sand.If you have mortgage arrears phone your mortgage lender. They will try to help you as the last thing they want is to have to evict you from your home. This also goes for any other secured loans you have. Try and sort out a solution wherby you can continue paying them less each month until things improve for you.

Clearly i do not know how severe your financial situation is, but if you cannot get your finances into balance by speaking to your secured lenders, then yes, speak to one of the Debt Management companies (you'll find a very helpful one on this web site). Their main two solutions are Debt Management Plans and IVA's but they will explain everthing to you.

Broker Boy