Duchess of York’s debt woes reflected around the country

Commenting on the news that the Duchess of York is facing possible bankruptcy, Louisa Parker, Head of Research and Policy at the Money Advice Trust, said: "Coping with unmanageable debt is a difficult experience no matter what your background. While the publicity surrounding the Duchess of York's decision on whether to apply for bankruptcy  has been widely publicised, with 70,000 people declared insolvent in the first half of this year, many others will be suffering the burden of debt in relative silence.

"For those struggling with debt and considering bankruptcy, it is vital you contact a trained money adviser who will weigh up all the available options before you make any big decisions. National Debtline offers free, independent advice over the phone to many thousands of people every year.

"In some cases bankruptcy might be the most suitable option. However, this is not always the case and is just one of a range of options available, as many people are able to agree a repayment arrangement with creditors once they have completed a detailed itemised personal budget sheet with the help of a money adviser. This is a vital step for anybody in debt as a personal budget sheet will show how much money there is available to repay creditors at an affordable rate.

"In addition to this, the introduction of Debt Relief Orders (DROs) last year, means that those with debts under £15,000 with little income or assets can consider a cheaper option to going bankrupt, which can cost over £600. Figures release by The Insolvency Service last week showed that 23,770 DROs have been made since their introduction last year."

People who do have concerns about their debt should call the National Debtline on 0808 808 4000, or visit nationaldebtline.co.uk.