Free Debt Advice

All borrowers experiencing difficulties with managing their various debts will require guidance at some stage or another. Anyone in this situation is strongly recommended to seek free advice for debt problems to help them keep on top of their finances.

Who Offers Free Debt Advice?

Among the many national and regional agencies across the country offering free debt advice, charity organisations are probably the most popular. Such charitable bodies can be trusted to provide genuine advice either face-to-face, over the phone or online. Equally as trustworthy are government debt advice organisations, such as the Citizens’ Advice Bureau, which are fully or partly paid for by the state. Specialist free debt advisers are trained to give independent and confidential advice and provide impartial suggestions for solutions to a person’s debt troubles.

Advantages of Free Debt Advice

Free debt advice charities are considered much better alternatives to commercial debt management companies. Though they might be able to arrange appointments with customers quicker because they operate as businesses, financial experts have provided reasons why such companies should be avoided. Debt management companies will usually levy a charge for their services, and if a debtor takes out an on-going product with one, they could even face a monthly fee. Therefore, a person’s debt may make no significant improvement.

Debt Management Plans

Free debt help providers can support struggling borrowers with various debt management options and will guide them into making the most suitable choice depending on their financial circumstances. Debt management plans are the most common solutions offered free of charge due to their simple processes. Charities that deal with free debt management plans act as a go-between for the debtor and lenders in order to come to an arrangement for lower monthly payments until the borrower is back on his/her feet.  A free debt management plan means that every penny paid into the scheme before the money gets forwarded on to the lender will go towards clearing a person’s debts.

Free debt management advice specialists may suggest other simple debt solutions such as helping debtors create a budget tailor-made to fit their individual circumstances, the production of Individual Voluntary Arrangements, or even the giving of advice on debt consolidation. Some debt charities are even known to send free debt advice information packs through the post.

Free Debt Advice for Debt Relief Orders and Bankruptcy

There are some sorts of debt management services that organisations cannot actively give people totally free advice on due to government charges for certain processes, but they will nevertheless provide personalised advice without adding costs of their own. Debtors may particularly want guidance when considering insolvency services if they feel they have no way of clearing their debts.  Both Debt Relief Orders and filing for bankruptcy will cost a sum of money, but free debt advice can be sought as these are these are circumstances in which a decision should not be made lightly.

Personal Debt Helplines

A personal debt helpline can be an appropriate starting point for free help with debt, especially if a person is unsure what the best course of action is for them. Personal debt helplines are usually free to call and open for most of the day, so even if a debtor needs urgent debt advice, they can rest assured because they will always have somebody to talk to.