Five ways to spot dodgy debt advice firms

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They don't give many options

A good debt advice firm will present you with all of the options available. Unfortunately some rogue firms tend to just suggest the solution that is most profitable for them.

They present themselves like a charity

Many firms do not make it clear that they are a business not a free service. Consumers could be led to believe they are dealing with a charity or government body.

They discredit free services

Those that make it clear they charge fees from the outset may try to talk you out of seeking alternative, free help, for example from the Citizens Advice Bureau by discrediting their methods.

They don't mention the Financial Ombudsman Service

The OFT investigation found some advisers did not know about or purposely did not mention the FOS at times when it could have helped.

They don't collect enough details

Debt management is not a simple process so for a firm to be able to help you they need an awful lot of details about your credit situation in order to do a thorough job. Rogue firms will take basic details meaning they can't always offer you the right solution for you.

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