5 Warning Signs That You May Have Received Poor Debt Advice

There are numerous companies operating within the debt solutions field, but unfortunately many of them are motivated by lining their own pockets rather than providing the best debt advice based on your individual circumstances.

If you've never been in debt before or contacted a company about your situation then it's difficult to know whether the debt advice you've received is reliable or not.

With this in mind, we've compiled the following list of five key warning signs that you may have received poor debt advice:

• Unbalanced debt advice – All debt solutions have their advantages and disadvantages, so if all you're hearing is how perfect a particular solution is for you and you're not being told any of the potential pitfalls, that should set alarm bells ringing in your head.
• Too good to be true promises – If you're suspicious at all of the debt advice you've received then make sure you're armed with all the facts before committing to anything. There are companies who make amazing sounding promises, for example to get you to sign up for an IVA, only to offer no support or help when things start to go wrong.
• Excessive pressure – If you feel harassed or bullied into making a quick decision over your finances then it's very unlikely that company has your best interests at heart, instead only being concerned with making a quick buck. Professional debt advice will explore all your options rather than trying to force you down one particular route that's most profitable for the company.
• Check credentials - If you're unsure of the company you've approached for debt advice then you can check their credentials in a number of ways to see if they are a legitimate and established company. Even a simple online search for the company name may throw up some negative press about them and stop you from becoming another victim.
• Your solution isn't working – Unfortunately, every year in the UK, people act in good faith on misleading or inaccurate debt advice and are left to face the consequences. IVAs in particular have come under much scrutiny of late with many people not fully understanding their legal obligations, having their arrangement fail and potentially facing bankruptcy.
  

Don't get caught out by poor debt advice, contact a company you can trust. Debt Solver is part of Accuma Group Plc, a UK limited company listed on the Stock Exchange.

If you would like more information, ring Debt Solver now on 08000 434 336 (Free for UK residents only) or complete our debt wizard to see if you qualify