Men wait until they are 20 per cent more in debt than their female counterparts before seeking help, new research has revealed.

A study by Chiltern has found men can also afford to pay less than women in a similar situation and that it takes them an average of 22 months longer to become debt free.

Joanne Gill, spokesperson for the company, said people get caught in a cycle of borrowing and can struggle on for years before seeking professional help.

"People who use a debt management plan aren’t trying to avoid repaying their debts … they’re fulfilling their responsibility to pay what they can and communicate with creditors to ensure both parties are being treated fairly," she claimed.

The research discovered that many struggling debtors were using credit to pay for necessities such as food, and were suffering from "debt stress".

One solution to out-of-control debt is an individual voluntary arrangement, which is a formal agreement between the creditor and debtor designed to be affordable and ensure the individual is debt-free within a certain period of time.

They can see unaffordable amounts of debt written-off, while the creditor receives tax-breaks for the amount they lost.