Beware of 'Informal debt consolidation'
The are several organisations that advertise in the National newspapers that pose as "specialists" advising that if you owe over around £8,000 or more, they "can reduce your debts without the need to borrow". Theses "specialists" will offer services and assistance; but beware! Most of these "specialists" are intermediaries with no relevant qualifications and their advice could prove costly and inadequate.
Particular care should be taken when considering any propositions which promote 'debt consolidation' or ' debtor-creditor arrangements ', sometimes with consultancy agreements stipulating fees which people are expected to guarantee.
The UK Insolvency Helpline's panel of professional advisers are qualified, regulated and accountable. The average person can rely on our advice when considering personal obligations under the 1986 Insolvency Act and any restructuring of businesses. A "specialist" solely registered under the Consumer Credit Act as a Debt Counsellor need not be qualified, and is not registered or accountable under the relevant insolvency legislation. If in doubt please contact us for advice.
