If your own financial situation is okay, or even good, don't be surprised if a friend or family member doesn't approach you for help in getting out of debt.
Some may want nothing more than advice, while others may want a loan.
Here is what you can do to help a friend or family member who is in debt.

1. Make them feel that they can talk with you openly and honestly.
   If you don't know the entire situation, you won't be much help.
   Don't lecture or judge.
   Listen, and then offer advice.
   The two pieces of advice that are best are credit counseling, and debt settlement or debt consolidation.
   
2. Recommend credit counseling.
   If their situation has come to the point where they are seeking your help, they need credit counseling from a professional.
   Point them in the direction of free credit counseling that is available either in your community, or online.
   
3. Recommend debt settlement or debt consolidation.
   A debt settlement or a debt consolidation will bring almost instant relief to your friend or family member.
   Make sure that you point out the importance of using a professional debt settlement or debt consolidation company.
   Help them to explore both options to determine which option is right for their debt situation.
   

Finally, if you do loan them money, make sure that they have or are receiving credit counseling, and make sure that the money is loaned for the purpose of settling debts.
If they do not learn about credit, and the cost of credit, it won't be long before they are knocking on your door once again for more financial help.
Also make sure that there is a plan for them to repay you in place, as you cannot put yourself in a bad financial situation by lending someone else money.