Your Money Experts – Debt Solutions

Most people feel that the UK Insolvency / Debt solutions industry is a minefield. There are so many options, but so few truly independent advisors. Many so called advisors are merely selling their own particular product or service, others are using call centres where the person who is advising you has no real knowledge or experience of debt & is just working from a sales script. So what are your main options? Well, theres a lot to be said for brevity so, Ill keep this nice & brief; 1. DEBT CONSOLIDATION take out a new loan to consolidate your debts into 1 easily manageable payment. The credit crunch has made this option much harder particularly for people with adverse credit ratings. 2. DEBT MANAGEMENT Utilise the services of a Debt management Company to deal with all your creditors on your behalf, you make one affordable payment & they apportion/share it amongst your creditors . 3. UNFAIR CREDIT AGREEMENT AUDITS this option is very widespread at the moment & comes in many different shapes & sizes but some experts are questioning whether it will actually work or not, particularly now that the Government own 50% / 60% of some of the major banks. This option could work & if it does all or some of your debts could be written off, but beware the sharks Ive heard reports of Companies charging large up-front fees & then doing nothing/very little for months whilst other Companies are charging large back-end fees using CFAs (conditional fee agreements) if youre unable to pay …
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