Getting quality consumer credit counselling is critical in order to understand how to get out of debt. Free debt advice allows someone with financial difficulties to discuss their debt problems and identify potential debt solution strategies.
Private Debt Companies Vs Non-Profit Free Debt Advice
The debt counselling market consists of a combination of free debt help and private companies that charge for their services. Clients don't want to pay to get out of debt because they haven't got any money. The problem is that everybody wants free assistance so many of the non-profit services are inundated with requests for debt help.
Citizens Advice Bureau (CAB)
A Citizens Advice Bureau can be found in the majority of large towns and cities. Some of the staff are paid for providing a free debt advice service, but many are simply volunteers. They are all fully trained and will discuss potential debt solutions to eliminate the client's financial problems.
They not only provide a debt counselling service, but also have access to numerous other professionals to help clients get out of debt. They are able to secure clients half an hour of free legal advice with regard to the debt problems. Whether further free debt advice is attainable from a solicitor will depend upon legal aid eligibility.
National Debt Helpline
Another credit industry funded free debt advice service, the National Debt Helpline seeks to assist clients with full telephone support backed up by an array of excellent self-help guides. They can be contacted between Monday and Saturday, although the latter is only a half day.
All free consumer credit counselling services provide an excellent service, but they are extremely busy as a lot of people have money problems. It can be difficult to get the same level of personal attention as one would through private debt companies.
Payplan
Payplan is a free debt advisory service that is funded by the credit industry. It employs a number of advisors who offer a consumer credit counselling service as well as providing free debt advice to clients. They can be contacted by phone or email.
Payplan has an excellent record of helping people to get out of debt. As well as budgetary help, they offer a Debt Management Plan that is free from charges. They also offer an Individual Voluntary Arrangement with no up-front charges. The absence of charges helps their clients get out of debt faster than would otherwise be possible.
Don't just consult one private debt advisory company or free debt advice service as different perspectives are extremely useful. Which ever option is decided upon, always research the different debt solutions before proceeding.
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