Something that will happen this month is that, on 31st January, I will be completely debt-free [mortgage permitting]. This has been a 12 year journey that has seen me at the wrong end of this experience when I was younger, and have worked bloody hard to overcome since.

The experience for me has been quite varied- on the one hand, it comes down to personality, a certain impulsiveness, that encouraged me to live for the moment, knowing deep down that I didn't have the means to pay off what I was borrowing. On the other, society is accepting of mountains of debt, ably supported by [and this is my third point] finely-tuned credit organizations who understand fully how to market cleverly on insecurity, impulsiveness, impatience and all of the other weaknesses that society allows us to have.

The first element of this is simple. When I was a student, debt became freely available from the second I advised them that I was going to university [June 96]. Without any further ado I received a £1,000 interest-free overdraft- and by the time I got to university in September, I was already at my limit. I had spent the summer partying and hanging out, and using that money to get around the place.

As soon as I got university though, my allowance from my family simply didn't cover the expense of living at univeristy, and by living, university is geared for extracting maximum cash from their students from day one. Bars, events, clubs and societies are all geared for that. By the end of the first month I was broke, having partied and drunk myself to that point. I didn't even have money for course books- not that it mattered, as I was often too hungover to go to classes. So the next step was to take out student loans, which at the time were £2,000 a year, which got me through.

I realise, looking back, that I was extremely lucky. I was the last admission who got grants - students are now leaving university with £15,000 debt, before they even begin working, which is appalling and a very negative signal for poorer kids who simply cannot afford to be saddled with this sum.

However, that aside, by the time that I left university I was £8,000 in debt- it sounds alot, but the problem with debt [like drugs] is that is creeps on you- when it grows in small increments, rather than massive steps, it is easy to ignore it because it doesn't feel painful.

On leaving University, I needed to get to London, set myself up with my boyfriend etc. so I decided to get a £6,000 graduate loan, which was spent within 6 months after getting furniture, deposits etc. I then got a job worth a whopping £12,000 a year, which was truly dreadful and I worked my arse off for.

As soon as you get a job- it doesn't really matter how much- the banks then start sending you aggressive marketing materials. Given my financial insecurity, it was a matter of when, and that moment came as soon as the loan had stopped. Within 12 months after that, I had reached my £5,000 credit limit. So within 18 months of leaving University, I was £19,000 in debt. The turning point came when I had nowhere left to go, and I had to address the issue.

I made a concerted effort over the next five years to get rid of debt, and I have to admit to being extremely lucky. For one, I have no dependents- meaning all cash could go to debts. Secondly, I had made massive leaps in salary, so I could dedicate all reasonable monies to debt. I do think I have become debt-free just at the right time though.

Others are not so lucky- I managed to do all of this with low household bills, low APRs and no dependents. UK Consumers are not £1.35 trillion in debt, with a staggering £93 billion in interest repayments. 46% of people who paid for Xmas on credit in 2006 were still paying off that debt in 2007. I am in no way pointing fingers- I know how hard it is, and if it wasn't for debt, I wouldn't have been able to start life with my boyfriend and stave off poverty.

My concern for the country is that the credit companies are now clamping down on cheap credit- 38% of people who applied for credit cards were refused in November, up a massive 16% month on month. It means that credit card switchers may find it harder in the future, meaning that they are going to accumulate more debt in the process. Furthermore, household bills look set to rise massively, with oil close to $100 for the first time ever, food bills soraing and with gas and electricity bills set to rise, it will be harder than ever for consumers to be free of debt. For those in that situation, good luck to you- it is by no means impossible, just requires some planning and some discipline- and time. Be patient, stay focused and you will reap what you sow.

Good luck to you if you are one of them.