There are debt management companies that mislead people through their adverts. They usually suggest government debt consolidation or government debt advice. In fact, the government are not endorsing these companies.
Moreover, government debt consolidation or government debt advice does not exist. People seeing these marketed adverts think that these offers are free and official. These companies impose charges to provide the same debt management services.
Understanding Government Debt Consolidation Loans
The UK and Scottish governments introduce ways on how you can deal with your debts. These are the only debt solutions associated with the government.
- Bankruptcy in England, Wales and Northern Ireland
- Sequestration and Minimal Asset Process in Scotland
- DROs or Debt Relief Order throughout the UK
- IVAs or Individual Voluntary Arrangements
- DAS or Debt Arrangement Scheme in Scotland
Actions Taken against these Government Debt Consolidation Adverts
Companies that are misleading people have been dealt with the Financial Conduct Authority. The FCA regulates the debt advice sector and aims to stop this type of promotion. They have steps in place to reprimand these companies.
Hopefully, you won’t be misled by any of these companies offering government debt consolidation. Also, make sure to consider the following pointers:
- Get free and trusted debt advice before you consider or accept a debt solution offered to you
- There are risks during unexpected financial circumstances.
Advantages of Getting Debt Advice
» Debt.org.uk help you write off unaffordable debts
»We provide a straightforward computation of how much you afford to pay each month to your debts.
» If you find it hard to repay your debts on the agreed timeframe, we will request your creditors to allow reasonable time or period.
» Our expert debt councillors will discuss with you, to recommend the most efficient and cost-effective approach for your finances.
» Debt.org.uk aims to get you back on track and attain freedom towards your finances.
» To help, we’ll devise a specific budget together, free of cost and work with you to determine a realistic affordable repayment.
Debt consolidation programs are an exceptional choice for several people, but not certainly not for everyone. So, before you take a big leap in getting into a debt relief program, scrutinize whether it is the right debt solution for your situation. Mostly, it is ideal to seek expert advice and guidance.
We can help you determine the available options for you. If you’re already a Debt.org.uk customer, we can proceed with helping you throughout your tough times. Get in touch with us and let us help you.