Credit is still easy to obtain, four in ten respondents to a recent survey have claimed.

A study by financial advice firm the Debt Counsellors has found that six in ten of the people they questioned believe that despite the credit crunch, the checks made to ensure a debtor can afford repayments are still insufficient.

Some of those questioned claimed their debt had been building for more than two years, while many admitted to feeling "depressed or worse" over their borrowing levels.

Experts recommend that when faced with difficult debt, the borrower takes action as soon as possible rather than leaving the problem to become worse.

There are several options open to the debtor, including remortgaging, debt management and individual voluntary arrangements (IVA).

Borrowers facing bankruptcy can consider the possibility of an IVA as an alternative. It can allow them to make a single, affordable monthly payment to their creditors and guarantees they will be debt-free within a set period of time.