Following our story on families facing rising debt, and trouble with loan sharks, amid the cost-of-living crisis, we bring you expert advice on managing debt.

Richard Ross , director of wealth management firm Chadwicks, which is based at the University of East Anglia's Enterprise Park, gives the following advice on what people should do to build up their financial resilience:

Look for early signals that things are going wrong
People should keep an eye on whether their debt is increasing and if they are simply paying the interest instead of reducing the balance.

Act quickly and decisively

Stop all regular payments for anything that isn’t an essential. Don’t be too proud to ask for help
There are some great organisations who can help with both practical help and guidance around better financial management – make use of them.

Speak to the people you owe money to
It benefits no one if you get into problems with your finances. These are horrible calls to make but you can’t bury your head in the sand.

Be kind

And finally – if someone can’t pay you, or asks for a bit more time, then be kind. It could easily be any of us.