Managing personal and business debt

Today it seems everybody has debts, governments, banks, businesses and of course people. Many people seek advice on how to manage their debt and try to financially survive in the ‘credit crunch era’. The problem with an increase in individual debt is the increase in companies who promise to solve these problems, when all they after is the maximum amount of commission they can gain. Talking to Debt Counsellors they said there are a couple of key things to make sure of before you agree to any debt management<, debt consolidation, IVA or even bankruptcy. 1. Make sure the company you are dealing with have a consumer credit licence. 2. Ask about the Debt Management Company’s fee arrangements, some company’s charge an upfront fee which can be quite high. 3. Some will only deal with some of your debts, leaving you to deal with the others. 4. Most companies will try and deal with your circumstances from a call centre who are just interested in commission, not in you and your circumstances. By contacting Compass Debt Counsellors they will make sure you have all the relevant information and they will arrange for a sympathetic debt counsellor to visit you and talk about all the different ways which are best for you to manage your debt, whether this is personal debt or business debt. So if in you are doubt of the debt advice you are getting best to ask a second or third opinion and look for a company which has trained debt counsellors, who are able to visit you and discuss your individual >debt management needs.