The idea with debt management firms is that every month you pay into them and they sort out all your bills and debts. But there are serious questions over how some of them operate and we've also had a few high profile collapses of debt management firms with catastrophic effects for consumers.
Noeline Blackwell of FLAC joined Eddie and Keelin in studio to explain how there is no licensing or regulation in place for debt management companies at the moment. Fianna Fáil put forward a new bill this year, which the government has accepted in principal, but nothing has happened with it yet.
Eddie gave three important pointers to those struggling to manage their debts: