Consumers struggling to manage their credit card and loan repayments have been urged to speak to a financial adviser, one expert has said.

Furthermore, borrowers should also notify their lender that they are finding it difficult to arrange their finances, consumer education manager at Experian James Jones advised.

He noted that there are a "range of options" available to consumers and debt consolidation is one alternative.

And he added that consumers should ensure they are aware of how much money they owe, by frequently addressing their incomings and outgoings.

"People should regularly evaluate their finances. I would recommend regular evaluation, monthly or quarterly," Mr Jones said.

These comments echo advice from Bernard Clarke, a spokesperson for the Council of Mortgage Lenders (CML), who told consumers to keep their lender informed if they are likely to go into arrears.

And CML research has forecast an increase in possessions by first-charge mortgage lenders.

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