Personal debt is a huge issue these days, and with redundancies, reduced shifts and inflation all on the up, things are only going to get worse. Easy to manage loan and credit card bills become a huge burden when income drops. And this can leave you in a difficult and scary position.
This is a real situation that's happening in homes all over the UK, yet people are still nervous of asking for professional help with their debt. Partly that's because they don't like admitting to a stranger, and maybe even to their family, that they need help, and partly it's because they're scared of admitting there's a problem at all.
Below we highlight some things to look out for when picking someone to deal with your debt problems. We understand that debt is a very personal issue and believe that you should spend some time in finding a debt management company that's right for you.
What To Look For
A company that's government licensed and regulated.
A company which offers more than just individual voluntary arrangements (IVAs). Tere are all different types of debt solutions for all different types of problem, you need to know that you're dealing with a company who's there to help you in the best possible way.
A company which is upfront with you. The kind of company you can trust is one which is honest and open with you about all your options and their implications, and about any fees you may be charged.
A company which you feel comfortable with. Check out their website, check out any literature and be sure it's professional, and reassuring as far as expertise, experience and accreditations go.
You feel comfortable with the company's representatives. You'll mainly be dealing with one person. Do you like them? Do they instill trust and respect? Are you relaxed about letting them help you? Gut feelings are very valuable in these situations.
Does the company's website carry a statement of good practice or similar? Are you happy with what it says?
Can the company demonstrate to you that they've helped other people? Can they supply testimonials? Do they sound like they're written by people who really had something appreciative to say? Do they cover some of the aspects of seeking professional help that you're nervous about, because you can guarantee that if you're concerned over some elements, other people will have been too.
Is the company more than a year or so old? A company which has a few years' experience under its belt is likely to have better understanding of diverse situations and be able to offer help which is properly tailored to your circumstances. It's also a strong indication that the company is genuine: fly-by-night companies generally don't last very long.
Have a list of questions prepared in advance before you commit. Ask about how often a company will communicate with you, whether you will get a monthly statement or any other correspondence. Make sure you have a personal contact and a phone number, email address and postal address. Check these are operational before signing up. Don't be less than totally happy before you commit yourself.
Ask whether the company will be using the British Banking Association (BBA) figures for what a person can reasonably live on as a basis for any debt management plan calculations. There are two reasons why this is a good idea. One, to make sure the plan helps you get out of debt, not further into it. Two, creditors find debt management plans hard to decline that are based on the BBA figures.
Why Choose Debt Free Me?
Here at Debt Free Me, our first concern is to get our customers the help they need. To do that, we arrange face-to-face meetings with one of our experienced debt advisors where we go through all your paperwork and concerns with you. We'll then propose a solution tailored specifically for your needs, taking into account BBA figures. We tell you about our service, including our monthly statements and newsletters. We will explain any fees you may incur. Then it's up to you, there's no obligation to use our services. If you accept our services, we will undertake to contact your creditors for you, and you simply pay one affordable monthly payment from then on that will eventually see your debt finished and over with.
In over six years of business we've had a lot of satisfied clients. You can read what they say on our testimonials page.
Or read the testimonial below which says it all, really!
"One of the best decisions I've ever made"
"I wish to confirm that I am now completely debt free and no longer require the services of Debt Free Me.
"I would like to take this opportunity to express my gratitude to all the staff of DFM. When I first met with Bob back in 2006 my financial situation was dire and in desperate need of professional help. I was slightly apprehensive at first as I was not sure if DFM was the appropriate solution to my financial problems. Four years later I realise that choosing DFM to assist with my finances was possibly one of the best decisions I've ever made.
"Communication with DFM has always been professional whether via phone, email or posted correspondence, and when I requested a call back it was always made within an acceptable timescale. Whenever I spoke to a consultant they were always very helpful and could always access my details and have some understanding of my situation, which was reassuring.
In summary I have been very happy with the service provided by Debt Free Me and although I doubt I will ever use your services again (fingers crossed) I will always recommend DFM to anyone that I feel would benefit from your help,
many many thanks,
M. Kerley
We are founding members of the Debt Resolution Forum (DRF) and strictly adhere to the government guidelines regarding debt advice, so you can be sure of safe, unbiased help from our trained debt advisors.
Why struggle alone anymore? For professional help you can trust, call 0800 988 7701 or fill in the contact form and we'll get back to you as soon as possible.
