How to avoid bad debt advice

by SRLV on 5 April 2011

As a result of difficult financial times, UK businesses are finding themselves seeking professional advice more than ever. While there are many legitimate firms who provide accurate and practical advice, there has also been a rise in firms who offer less than useful advice with the aim of suggesting solutions which are likely to provide them with the most profit.

Do not take their word as gospel

When seeking financial advice, it is always safer to seek opinions from multiple sources, as some companies may be deliberately omitting solutions in favour of those that are more likely to profit them, limiting your choices and lining their pockets.

Don’t be blinded by marketing tricks.

Some companies employ marketing that makes them appear as a form of debt counselling charity, when they are more interested in making profits at the expense of those they are informing. Their communication may give the impression that they give free advice;  sometimes they even fail to mention that their advice is not free. If you do not see a message that explicitly says that they provide free, impartial advice, seek it elsewhere.

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