Gail Vaz-Oxlade is one of the most popular financial experts for a reason. Her no holds barred approach is based on one consistent message: You need to be the one to take action to take care of your debt problems.

You may criticize the bank, the credit reporting agency or payday loan companies but at the end of the day you have to be able to identify that you are too deep in debt and need to do something about it.

types of debts that most often trigger deep financial problems include credit card debt, high interest financing loans, payday loans and misused lines of credit. In our rebroadcast of one of our post popular podcasts, Gail calls these types of debt 'callable debt'.  She recommends you focus any debt repayment plan on this type of debt first, and for good reason.

This is the type of credit that can be taken away at a moment’s notice. The bank can cancel your credit cards, your line of credit and demand immediate payment. If you don't have a good credit score this could leave you struggling and at risk of bankruptcy.

In the bonus segment Doug Hoyes discusses his experience on reality TV.