Almost 180,000 homeowners have fallen behind with their mortgages in recent rising interest rates, and economists are predicting surges in arrears and negative equity. With lack of job security and further rate rises we may experience unprecedented levels of repossessions in the UK.

As consumer debt hits record levels, some of Britain's most heavily indebted borrowers will be concerned about lenders' reactions to those having difficulty in repaying loans. More concerning are those who take out additional personal loans secured on their property.

Are we about to see thousands of families lose their homes as lenders react to rising mortgage arrears by repossessing? Given the bitter experiences of the last housing crash, in the early 1990s, when repossessions soared, wise borrowers should assess the size of a debt and their ability to repay.

Ed Stansfield, an economist at the consultancy Capital says, "Lenders have to ensure that they get their money back, perhaps by looking at the market and saying: 'can we recover costs by a possession and sale?'" Economics.

It is not in the Lenders interest to throw people out of their homes. A customer is more highly regarded if they can keep up with their monthly repayments and to notify the Lender immediately if they have any difficulties.

Amy Brown at the Consumer Credit Counselling Service, a debt charity, says the warning signs for troubled borrowers include struggling to pay debts, council tax and utility bills. People who dread opening letters from banks and other lenders are also likely to be close to trouble, or already in it.

Those who are in financial distress should first talk to their Lenders. It is better to keep up with communication with the lender and pay off the interest element of the mortgage, than to pay nothing at all.