Report from Citizens Advice shows that many people are being misled by some debt management companies. This ultimately ends up with people being worse of than when they started. Citizens Advice has likened the situation to the payday loan situation a few years ago.
Beware Debt Management Companies Taking Advantage #costofliving
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My spouse & I are both disabled (have been since birth) & because were Americans (no universal health care like EU/UK/ Canada etc) we accumulated $44k in medical debt ????????After doing everything and anything we could, we’ve now got it down to $7k ???????? Took us almost 2 years but I’m proud of us and wish everyone else the best of luck on their debt free journeys. Thank you for the tips on what to look out for & avoid online Karen ?
Glad you had a lovely holiday. You look well rested Karen.
Good, sound advice. So sad that these sorts of companies make money out of those who are most vulnerable.
We have debt management companies advertising on tv here in Australia. They don't really make clear how much they take for looking after peoples money but it doesn't take much intelligence to see that they must gain quite an advantage or they wouldn't be advertising.
In truth it would be Terrifying to get into debt, i couldnt cope
Welcome Home
The trouble is CAB you have to queue up very early , and ex amount can go in if not you get turned away , CAB in east London you have not got many to go to , lots of people have to use them . I went to one for advice about 13 years ago , i queued from 6am to 9am ok it was not about debt it was advice for my late dad , but my godfathers those desperate people in the queue , and that was then. At the time there was only 2 other CAB in east London . I don’t know now , so can’t comment on that . They was not very helpful to some that went in very shouty type people to those who already have problems. I can see why these desperate people do go to debt management ppl . I get these type people on the phone can I help you debt management advice . I am being very horrible now to them I just say “say again say again what’s that” they soon lose patience and slam phone down . It’s an awful situation out there . Government should get more CAB places up but hey ho they don’t want people to know to much or get to much help , they want people in debt no help no advice . Not knowing there rights . This has got to stop how government treats people with debts
Thank-you Karen for this very solid advice. Many people are ashamed if they get into debt, and hide their financial struggles from their own families even. Others just slide into problems constantly thinking that somehow things will get better, always hopeful. It is the most awful feeling, and the CAB is there to help. They will make sure you are getting all the help and benefits you are entitled to.
Sadly they cannot increase low pay or benefits which as Martin Lewis, the Money Expert, has said as simply too low to keep people above the poverty line. To anyone feeling that pinch, please find out what is available locally in terms of food support charities like Community pantrys, food pods, food banks who can help. The CAB should be able to navigate through what can seem like a maze.
They need to look after the British people instead of looking after the boat people because its ridiculous how much help they get
Good information, helpful and eye-opening.
the guardian is only good for starting a fire why the heck are you reading it
Important video. The debt 'help' market is rife with conflicts of interest. I'm sure you also realise the debt ????is only just getting started.
You do great public service,Karen!