Getting quality consumer credit counselling is critical in order to understand how to get out of debt. A debt counselling session allows someone with financial problems to present their debt problems and discuss potential debt solution strategies.
Private Debt Companies or Non-Profit Free Debt Advice?
The debt counselling market consists of a combination of free debt advice and debt companies who charge for their services. Nobody wants to pay to get out of debt because they haven't got any money. The problem is that everybody wants free debt advice and 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 debt counselling service, but many are volunteers. They are all fully trained and will discuss potential debt solutions to eliminate peoples' 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 debt advice is possible from a solicitor will depend upon legal aid eligibility.
Payplan
Payplan is a free debt advisory service that are fully funded by the credit industry. It employs a number of advisors who offer a consumer credit counselling service as well as a number of free debt solutions. They can be contacted by phone or email.
Payplan has an excellent record of helping people to get out of debt. Its debt solutions include a Debt Management Plan that is completely free from any charges and an IVA with no up-front charges. The absence of charges helps their clients get out of debt faster than they would otherwise achieve.
National Debt Helpline
Another credit industry funded 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 of these free consumer credit counselling services provide an excellent service, but they are extremely busy. It can be difficult to get the same level of personal attention as one would through private debt companies.
Don't simply talk to one debt company or free debt advice service as knowledge is power when dealing with debt problems. Which ever option is decided upon, always research the different debt solutions before proceeding.
