subject: National Debt Advice Line – Do they really want to help you in your debt problem? [print this page] In an unregulated sector, getting impartial, unbiased debt advice can seem like an impossible task. Many of the advertisements you'll see, particularly online, where there is little in the way of regulation, say things like National Debt Advice Line', Government Solution' or Clear Your Debts'. These are often commercial debt advice businesses that are seeking to borrow' credibility by making unsubstantiated or misleading claims doesn't National Debt Help Line' sound more impressive than One Man And His Dog Working Out Of His Front Room In Manchester'. Often, these companies don't even have a valid Consumer Credit License, which is a mandated Office Of Fair Trading (OFT) requirement of providing debt advice and counselling in the UK.
Something else you should be keep in mind is that generally, not-for-profit organisations and charities are unlikely to rank very high up in the sponsored listings (these are the top three results and right hand side of the page) on search engines such as Google as cost money this is generally where commercial organisations obtain their leads from. You tend to find the charities and not-for-profit organisations rank high up in the natural listings (the main results) because these are based on how trustworthy and relevant Google believes the websites are.
Before you make a decision to call an advisor, there are a number of things you can look out for, which can help you to determine whether the company is credible or not. These include:
Making sure there is a registered office and postal address on the website.
Making sure they are licensed to provide advice by the OFT or FSA or that they are regulated by a professional body such as an accountancy association.
Making sure the website covers the full range of solutions (including Bankruptcy and Debt Relief Order). If it is mainly concerned with IVA, Debt Management and Debt consolidation, which generate fees for the advisor, then it is less likely, although not impossible, that you will receive impartial advice.
Making sure the website doesn't have a debt calculator', which asks you how much debt you've got. Commercial websites tend to use this to prioritise call backs to clients that looks like they will qualify for an fee generating solution.
You can avoid taking unnecessary risks by seeking advice from a reputable unbiased debt advice charity, such as: National Debt Helpline (0808 808 4000), Debt Advice Foundation (0800 043 40 50) or CCCS (0800 138 1111), all of which offer free and impartial advice.
National Debt Advice Line Do they really want to help you in your debt problem?
By: James Cox
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