Road or mountain bike? My mountain bike has that problem, but I typically don't care, I have booties and rain pants that I don't mind getting dirty. I also have wide 2.1" tires on my mountain bike so its hard to get good fenders for MTBs, at least in terms of keeping ones shoes or pants clean. Best bet is to find a full wheel fender that is as close to the tire as possible. This is easier on a road bike than a mountain bike. I think Planet Bike makes some good full fenders for road bikes, I've seen some before on the net but not in person.

Jay