Name: Warren, 31.

Live: London.

Financial situation: Warren had racked up debts of over £100,000 on credit cards, personal loans and family borrowings.

Occupation: Systems Engineer.

Biggest money wasters: Big nights out in the West End, clothes and his Range Rover car.

Background:
In programme two we met Warren, an Essex lad who was living the high life in London's West End. Warren thought nothing of spending thousands of pounds on nights out, designer clothes and his pet pooch Mr Boo.

Warren's extravagant lifestyle was about to catch up with him, and as the bills, fines and repayments piled up, he had to make some drastic changes. That's where Warren's mum Maureen stepped in. Fed up with increasing debts Maureen ordered her son home for one week and took control of his finances.

For Warren the most important thing in life was having fun - today. He readily admitted to having no thought for the future and figured he would sort out his financial mess at a later date. He had eight credit cards, all "maxed out", a host of personal and family loans he hadn't paid back and was living with an ex-girlfriend so that his creditors couldn't find him.

Tactics:
Warren's mum Maureen has never been in debt. She is a true believer that if you want something you have to work for it, but would her sensible spending habits rub off on Warren? Maureen's plan of attack was to keep Warren busy for the week, and give him plenty of lectures! She felt that his major problem was an "addiction to spending", so if he was busy sanding her shed he couldn't indulge the spending urge.

Spending big on everything from clothes to nights out was something Warren didn't think twice about. His wardrobe cost him over £25,000 alone, he often spent upwards of £1,000 for a night out and admitted to spending anything it took to keep women happy. Even a salary of up to £55,000 per year pre tax wasn't enough to cover all those expenses.

Maureen tried to cut down the amount of money tied up in Warren's clothes by bringing a second hand designer clothes dealer to the house but Warren was having none of it.

Mr Boo was no small outlay either. The Doberman cost Warren around £15,000 over five years. As Mr Boo trotted around with his £,1000 collar and £225 lead Maureen took the pair to meet a Doberman breeder, whose four prize winning pooches put together cost less than a third of what Mr Boo does per month.

Maureen even went to the lengths of introducing her son to Malcolm, who had to declare bankruptcy and has been trying to rebuild his life, but Warren could see no parallels between the two situations.

A princely sum:
Warren's assurances that he wasn't in financial trouble weren't even dampened by Lawrence Gold's final tally of the debts.

After days of sifting through bank records Lawrence discovered that Warren owed a massive £108,000. Credit card debt added up to £36,000, bank loans accounted for £30,000, there was £2,000 taken up in parking fines and a whopping £40,000 owed to his family.

Watch the moment when the true extent of Warren's debt is revealed.

Warren's take home pay earned him around £2,500, yet he was regularly spending almost £5,500 per month, and his parents were paying most of his bills for him!

The one positive part of Warren's financial situation was that he owned a flat which he rented out, but Lawrence was beginning to think Warren may be forced to sell.

It was his mother's obvious distress at the situation that began to turn Warren's way of thinking around. His father was very ill and the realisation that his dad may never see him out of debt began to worry Warren.

Solution:
After hours of research Lawrence came up with a plan to help Warren get out of debt. The first step was to slash Warren's monthly spending by £3,000. The revised budget cut clothes costs from £670 to £90, car costs from £875 to £150 and nights out were cut from £2,500 to £250. The budget freed up £600 per month for rent so that Warren could get out of his ex-girlfriend's house.

The final issue in Lawrence's plan was Warren's flat. He felt that Warren should sell the flat to help pay back over half of his debts. The idea was taken on board by Warren who got an estate agent out to value the property.

Update:
Three months on and sadly Warren's dad has died, but he would have been proud to know that Warren has been making an effort to turn things around. He is now living in rented accommodation and is living within his new budget on a day to day basis. Warren decided against selling the flat so he hasn't been able to pay off much of his debt but his curbed spending habits are a good start.