As you are aware I am a mortgage broker and have been for many years. I hate all doom and gloom but we do have to face what is going on now and I aim to show here that there could be other alternatives.

I wish I could tell you everything is fine and will be back to normal in five minutes so you don't have to worry any more, but I can't. I believe things will get better gradually but it will definitely take longer than five minutes. People generally do not have money to spend. I believe there are very few businesses that are not suffering, hence creating a knock-on situation.

There are still plenty of lenders out there but the loan to value completion fee charged by the lender and their attitude to adverse credit is different, and they are much more picky. The second charge lenders have also changed their criteria - lowering the loan to value to include both the charges - and I am sad to say not always for the better. Hopefully this will ease in a while and gradually get better, but who knows when. I must stress again there are still plenty of mortgages to be had.

Meanwhile, what about problems you may be facing now? So many of you are literally terrified, either dreading the end of your fixed deal, mounting up debt on your cards and loans, even repossession looming. Your business may not be earning as much as it was or even worse you have lost your job and possibly feeling there is no way to go. Petrified you will lose your home whilst being bombarded by telephone and letters about a late or missed payment is bound to wear you down. Probably your only slight bit of peace is on Saturday when the postman has been and you know he is not coming on Sunday. Most of the creditors do not telephone on Saturdays and Sundays, but at times during the weekend your mind begins to think and you get the sick feeling in your stomach however hard you try to push it away.

How do I know how you feel? I have been there, years ago I have to say, as the mother of two grown men now. I brought them up alone, my choice, but there were plenty of times we nearly did not make it. Over the years I have also had so many clients who through no fault of their own, or circumstances beyond their control, find themselves in this situation. Whereas until quite recently they could re-mortgage and get a new start by lowering their expenses considerably, this is not nearly as possible now because their credit rating is really bad and the loan to value on their property is too high for the lender's criteria. Saying that, in some cases a re-mortgage or loan is still the answer and easily done, so you need to take advice.

I can offer a possible solution to both property owners and tenants - Debt Management*. Basically this is paying one amount per month to a company who has made an arrangement and agreement on your behalf with your creditors. Once this has been done, any contact by any of them is made via your debt management company which in itself takes away so much stress. This is an informal arrangement and once the arrangement is made interest is frozen and you pay your payments. There are various stages of help offered depending on your situation. If the above cannot be done it could be an IVA* or bankruptcy*. Same principal an agreement is reached. But all of these give you a fresh start and so much worry taken away.

Please telephone me whatever or however bad you think your situation is and I will do my best to explain and offer you whatever is the very best way forward for you.

Call Marilyn Stein and Associates on 0208 530 4242, 9am-9pm seven days a week.

Marilyn Stein & Associates are an appointed representative of Tenetlime Ltd which is authorised and regulated by the Financial Services Authority and covered by the Financial Ombudsman Service. There may be a fee for mortgage advice. The precise amount will depend on your circumstances but we estimate that it will be £650. Your home may be repossessed if you do not keep up payments on your mortgage. Think carefully before securing other debts against your home. *Some of these products are not regulated by the Financial Services Authority.