Consumers can now get help to keep better control of their borrowing, with the launch of a new online ‘debt test’ developed jointly by the Financial Services Authority (FSA), the BBC, and Experian credit reference agency.

Using the tool, consumers answer a few simple questions and can then get feedback on their debt levels, tips on avoiding debt problems, and advice on ways to manage any debt problems that they’ve already run into.

The launch of the test is timely, as January is a month infamous for financial hangovers as people wake up to the amount of money they’ve spent over the festive period.

The Debt Test can be found at the FSA or BBC web sites.

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