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You might be struggling to keep up with mortgage repayments and have bills coming out of your ears – so why should you bother with a financial intermediary right now?

Brokers are middle men aren't they? They will not be able to help you, they will just take a cut and force you on to whatever mortgage or loan will make them the most money. The last thing you need right now is another shark trying to take a bite out of you…

This is the view of many struggling homeowners in the UK and it couldn't be more wrong. A mortgage broker isn't someone that just deals in mortgages for a start – they can offer a whole range of financial services to help you get through the recession and help you come out a stronger borrower.

Brokers can not only look at your mortgage and see if you could find a cheaper, more affordable deal, but they can also help you with debt planning – they can help you rearrange your finances, can help you redistribute your wealth and they can even put you in contact with a debt professional.

They can also offer you insurance products, that might like an unnecessary expense, but could save you a lot of money in the long run. Even if you are struggling with your mortgage and your bills you should put in place plans that could help you if you lost your income through unemployment, sickness or injury. It might be tough to handle all your debt now, but imagine if you had no income at all for three, six or even 12 months.

Also, mortgage brokers who are regulated by the Financial Services Authority, which is an arm of the Government. This means if they sell you a mortgage or a loan that isn't the best deal for you, then they could be subject to an investigation that leads to a ban, a fine and even a prison sentence – a good regulated broker is not a shark.

So if you are struggling with your debts, don't ignore your mortgage broker. Talk to them, ask them questions and see if they can do anything to help you get out of your current situation.

To Keep up with news and comments on the current adverse credit market please visit the Adverse Mortgage Blog.