Beware of Debt Management Companies that charge a fee.
As someone who is in debt and struggling to meet the repayments, you will probably want to speak to someone who can provide you with practical and impartial advice. Doing a simple search online can provide you with dozens of options who offer this service, but beware of companies that do this but charge you fees.
There is an old saying “the best things in life are free” and this applies to debt advice as companies like Payplan and charities like Citizens Advice Bureau and National Debtline , who provide the very best in debt advice and debt solutions to you for free. However, there are some companies that feel they need to charge a fee to their clients for the same service that we at Payplan will do for free.
A reputable fee charging Debt Management Company will advise you of the fees that they charge from the beginning; however, some companies may not be that clear about their fees. It is therefore extremely important that when you are searching for debt advice, you follow these simple steps:
- Do your research – use online review sites such as Review Centre or Trust Pilot to see what other clients of your chosen company have to say about their service.
- Speak to several companies – find three companies and speak to them all and see what solutions they recommend and whether you like them. Speaking to several companies will allow you to get several different options.
- Ask questions – when speaking to your chosen company, ask as many questions as you feel you need answering and make sure you fully understand the entire process, especially their fee structure.
Finding the right solution may seem like a daunting task, but getting advice from the right company will take a huge weight off your shoulders and give you the assistance that you need.
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