Bad debt advice introduction
Beware of misleading information
Due to the tremendous demand for debt consolidation services the United Kingdom is now overloaded with debt management companies that contain misleading information, therefore it is very important that you take the time to read our brand new debt warning and advice page.
The real truth about debt and credit problems is that you can achieve financial freedom through a professionally managed plan, however, you can also make your financial situation much worse by signing up with the wrong company. Just use common sense, if it sounds too good to be true, it probably is.
Remember if a company is advertising its services on TV or in a NEWSPAPER then BEWARE.....these companies do not care about you they are just salespeople.
Voluntary sector advice
Voluntary sector money advice organisations work largely behind the scenes without direct interface with the public, but are nevertheless closely involved in supporting non-profit-making advice services in the community. People faced with financial problems need to be aware of the sharp distinction between socially motivated voluntary sector advice centres and certain fee-charging 'advice centres' and consultancies, some of which have been known to have names which could be confused with voluntary or even public bodies.
Genuine, professionally competent, regulated financial advisers have their place, but it is important that people in need have access to free, impartial money advice and that they take care to distinguish them from those whose 'help' may well compound their problem.
It is in your best interests to take the time to read this highly important section in full.
'Cowboy' debt advisers
There have been widespread reports of firms of cowboy debt advisors taking extortionate amounts of money from consumers and business people. In return, the debtor gets little or no relief from his/her situation. Don't let this happen to you: If you are concerned about your personal financial position - or that of a company you own or manage, make sure you seek independent, professional advice
Most debt management companies found in the United Kingdom spend thousands of pounds each week advertising their services. The end result is that these companies must recoup this investment through exorbitant fees.
