A significant number of people nowadays are in some sort of debt, from overdrafts and personal loans to credit card debts or mortgages. These responsibilities are usually manageable (meaning you can afford to pay them each month), but it’s when you start to struggle making payments that they turn into debt problems and eventually, a debt crisis. 
The difference between a debt problem and a debt crisis can be defined as follows:
- A debt problem is where you are struggling to make ends meet from your monthly budget, but you seem to manage by using credit facilities (like an overdraft or credit card) to pay for things and keep you going
- A debt crisis is where you can’t afford to make even the minimum monthly repayments on your debts, as you are “maxed-out” on all lines of credit and have no money left each month
Many people slip into a debt crisis without even realising it. Each month they pay for their petrol or food using their credit card until they no longer have any credit left. Before you realise it, there are demands and threats of legal action filling the letterbox each day. It is surprising how many people fail to realise that their lifestyle or their spending has been digging them deeper and deeper into a financial black hole.
However in other cases, such as losing your job or the death of a spouse, a financial crisis can come about much quicker - as the overall income entering the household is negatively impacted on in a more visible and immediate way. 
It’s time to face up to debt problems before the crisis
If you have a serious debt crisis on your hands, you can’t carry on denying it. Put bluntly, you have to face facts and get some impartial debt help.
 The important thing is not to panic, even at the word ‘crisis’. There are plenty of debt advice organisations on hand to give you support, as well as numerous debt management solutions which are capable of addressing your personal situation.  No matter what the situation, there is usually a straightforward way to get out of debt with the right advice. It may take time and a little effort maintaining a budget, but most debt problems can be cured eventually.