“Impartial” advice best solution for economic blues

Consumers looking to alleviate the financial blues should seek advice from a certified and impartial source, a debt solutions group warned this week.

Derek Oakley, head insolvency practitioner at Debt Free Direct, said financial advice is best sought from advisers who have “achieved the Debt Standard”.

There can be “dramatic variations in the quality” of help given by debt management companies, Oakley said.

“It is vital that struggling consumers receive impartial advice as to which solution is right for them - based entirely on their individual circumstances.”

The Office of Fair Trading recently warned consumers to beware of adverts claiming to help people break free of debt by selling on their shortfall.

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