One of the things that you really want to avoid in this life, even after the recent changes in the law, is going bankrupt. It takes years to get life back on track after such a shattering experience.

It’s something that I’ve come close to it a couple of times (it’s a near inevitable consequence of trying to run a small business in odd corners of the world) but fortunately it’s never quite come to the crunch.

So how do you avoid it? How to you dodge he bullet? Well, the most important thing (assuming that you’re already at risk) is to adopt a Debt Management Plan. Click through there to see what it all means. The first stages are to acknowledge the problem, to be open with creditors, to reduce the interest you’re paying on any debts (compound interest at high rates on a thing like a credit card can be ruinous) and, essentially, to have a plan to deal with matters rather than simply hoping the problems will go away.