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It's not just older homeowners who are struggling with debt – the under 25s are also finding it hard to get by right now, but it's never too early to seek out financial advice.

The Citizen's Advice Bureau is highlighting the issue by launching a new service to help young people, alongside a film project aimed at highlighting debt problems to those who may not even grasp what sort of trouble they are in.

It says over 50,000 under 25s visited a CAB in England or Wales in 2008/09 to get help on debt – recent research undertaken by Citizens Advice and young people's charity YouthNet showed a quarter of 16-24 year olds have suffered mental health issues because of their finances.

One young person told Citizen's Advice: "I was getting loads of letters telling me to pay the money, but I just ignored them and put them in my bottom drawer. I knew I needed to get help."

Another says: "Because of my debt, I got even more unhappy. Until recently I hadn't even told my parents about my situation. I felt trapped and alone and didn't know where to turn to get help. I didn't want anyone to find out but I really wanted to sort my life out. But I'd say to anyone in the same situation as me – ‘you're not alone'."

No one is alone when it comes to debt problems. There are so many people out there to help get you back on the straight and narrow where your finances are concerned. It just takes a professional to explain the situation and explain the solutions. They might not always be easy solutions, nor ones that will solve the debt quickly, but they will work for the long-term.

SOURCE: CAB, 12/06/09

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