The man chosen by the government to carry out a review examining the possibility of offering generic financial advice has spoken of the need to make people feel more comfortable about discussing their financial issues.
Otto Thoresen has told the Daily Telegraph it is vital to provide people with preventative financial advice, rather than offering crisis management once it is too late.
He said "the responsibility falls more and more on the individual to plan ahead and look after their financial affairs", and added that it is important to engage with people to help them do so.
The final recommendations of Mr Thoresen’s review will be published early next year and for many struggling Britons could come too late.
Statistics compiled by Credit Action reveal that total personal debt in Britain stood at £1.363 billion at the end of August.
However, an individual voluntary arrangement can help debtors become credit-free within five years and offers an alternative to bankruptcy for those struggling to manage their finances.