Dealing with debt is becoming a very common problem in our day and age. Especially with the current situation, our minds are firmly focussed on other things, and this can lead to payments and credit agreements being pushed to the back of our minds. 

When this happens, we fall into debt. While there can be a quick fix with debt, it can also be a stressful and upsetting experience. You may wonder where you might be able to turn for advice about what to do next. 

Luckily, there are lots of different companies who focus on debt advice. We’ll take you through how to find and evaluate the best debt counselling advice companies.

Debt advice

More and more people are suffering from debt. Thankfully, debt problems can be solved. There are loads of services and charities out there to help you and offer guidance with whatever monetary issues you might be having. From help with your mortgage, credit card problems, overdrafts and car finance, it is all covered.

If you believe that you’re in a debt crisis, and you are consistently struggling with debts and meeting repayments, then don’t worry. This is a sad consequence of the current situation. In these instances, free personal help is invaluable. But where do you start?

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The right people to contact

First of all, you’ll want to try and find a non-profit debt counselling advice company. There are people out there who will try and make money out of you, when what you want is help from someone paid to do exactly that. 

There are many commercial companies that say they are free as they don’t charge directly – however, you will still end up paying somehow. So make sure you look for non-profit companies for any help. 

How can debt counselling advice companies help?

The non-profit debt counselling advice companies are the ideal people to go to if you are being harassed or bullied for payments by debt collection agencies. 

You can also get a contact freeze from your debt collectors under a new agreement between the government and the Credit Services Association. 

If you can prove that you have sought debt help, or that you are trying to repay your debts using a self-help tool, the debt counselling advice company will inform the collectors and they will give you a month’s breathing space to help you get back on track.

The wrong people to contact

Any sort of debt help or loan consolidation company that use excessive TV or radio adverts should be avoided. These debt counselling advice companies are often only out to make money out of you. 

In the short term, the plans that these companies offer aim to make your payments lower. However, in the long run, it can add up to fairly astronomical amounts. On paper, they sound great, but it’s worth doing your research.

Final thoughts

So if you’re having debt worries, and are looking for some free advice, the companies we’ve outlined above will be able to help you deal with your debts, and offer suitable debt counselling advice. 

These companies can help you in lots of different ways, so make sure you get in touch with them to find out the best company to help you with your case.

About the author

Scott Nelson

Scott Nelson is a financial services expert, with over 10 years’ experience in the industry, including 6 years in FCA regulated companies. Read more
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