Having taken on too many debts in credit cards, etc.,many people eventually reach the decision that the time is right to sort out all the debt.

It is only too easy to become embroiled in a mass of loans, credit cards etc., as the advertising men put so many goodies in front of us on a daily basis.

When we are children on our way to school, the advertising posters shout out at us about the latest designer clothes, games, etc. that we feel we simply must have., and how much better life would be if we owned such a computer, games console, etc.

As soon as we are home from school at the end of the day, we nag our parents to buy these objects for us.

We always, even from an early age, like to have as good or even better toys, games and clothes as our friends, and we never consider for a split second that our family are less well off than theirs.

This is the training ground for our future financial life, when we want, want and want, without taking in the fact that we possibly cannot afford to buy all the things that we want.

Often when we go to university or college, we meet friends who are much more well heeled than us, but we stupidly try to do everything and go everywhere that they do.

They go to the South of France every May to spend a fortnight, enjoying all the beaches, expensive restaurants and night clubs that are more interesting at that time of year than at almost any other, as the famous Cannes Film Festival takes place in May.

Sitting drinking an Armagnac one evening in a bar on the beach, you catch sight of your favourite actor.

Your friends ski in St. Moritz at Christmas,and so you do too.

When you start work, the spending trend continues, as it does after you marry and buy a home which you furnish in the best

The credit card balances mount up until you find that they are difficult to handle, and it is now at last that you decide to seek debt advice.

As you bought your property some years ago now, you should have equity in the property that you can use to sort out the indebted situation you find yourself in after years of reckless over spending.

If your property is valued at say 300,000, and your mortgage balance is 150,000, the equity would be the difference between the two, namely 150,000

You can use some of the equity to raise funds by a remortgage or a secured loan to arrange debt consolidation which will leave one low repayment in place of the numerous credit cards, etc.

The maximum value of secured loans is 100,000, but larger loans may be available from some homeowner loan lenders.

You can obtain a remortgage at a maximum 90% LTV.

Remortgage rates start from.84% currently and secured loans have rates starting at from 9% which can obviously save a great deal of money when used as debt consolidation loans that pay off expensive credit cards at up to 40% APR.