Recent statistics found that although many Brits, when questioned, think they have a good idea of their finances, many actually do not have a clear picture of their credit commitments at all - one in ten people do not even know how much debt they are actually in. And three in four Brits cannot accurately state how much they have left to pay on their loans* - these are big problems for a nation struggling to keep up with spiralling debt. That's why debt consolidation loans are so important: they are the best way for homeowners to develop new debt habits. So if you are one of those people who do not have a hold of their own debt situation, consider debt consolidation loans to get your finances in order.

So stop and think - are you in control of your finances? Can you confidently say that you are aware of all your outgoings, and know where all you debts lie? Can you quote your APR rates? Are you aware of what could, and will happen if you do not meet your repayments every month? If you can't answer yes to any of these questions, it's definitely time for debt consolidation loans - loans that are secured on your property for the express purpose of turning all your debts into one, smaller monthly payment. Because if you can't keep on top of your finances, without debt consolidation loans those debts will certainly get on top of you.

Before you seek out an adviser for debt consolidation loans, brush up on your debt situation. A lender of debt consolidation loans is not going to be filled with confidence to lend to a borrower who cannot detail their financial problems. So sit down and make a list - who is owed what, how much they are owed and how much your debt is costing every month. To be sure to be accepted for debt consolidation loans, you need to be on top of the problem.

After you have detailed your problems, make sure you are in control of your income and outgoings. How much are you spending each month? Where is money being wasted? What is a necessary outgoing? To be sure how big your debt consolidation loans are going to be, you need to see how short you are falling. And you need to be sure you can actually afford debt consolidation loans - these deals are secured on your home, so if you don't meet repayments, your house could be in jeopardy.

Then, talk to an adviser. Aside from debt consolidation loans an adviser is the best person to contact when it comes to getting your money straightened out and working for you, not against you. They will be able to advise you on which debt consolidation loans are right for you, and more importantly which ones are not. Debt can ruin lives, and many times the repossessions and the bankruptcies could have been avoided if the debtor had only taken on their problems head on - so take your problems on with debt consolidation loans.

*All statistics from CreditExpert.co.uk, June 2008