By Paul Lewis
Do your debts keep you awake at night? Are they the first thing you think of when you wake? If so, then you urgently need advice but be very careful from whom you get it, as there are dangers.
High Upfront Fees
I was reminded of the dangers of using a commercial debt management firm by an email from a reader. Her brother died just before Christmas and, going through his affairs, she discovered that five years ago he had debts of £35,000. In the end he paid a debt management firm £282 a month to deal with his problem: a total of £13,872.
But instead of reducing his debt, most of that was taken to pay the firms fees.
She wrote: When we approached the company for a final settlement figur…