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Independent financial advice 'can help those with debt'
Seeking independent financial advice can help people who are facing debt problems.
This is the opinion of David Rodger, managing director of the Debt Advice Foundation, who stated that many consumers who are struggling to make ends meet may need help to get their finances back on track.
"Bad debt advice can cause the situation to get worse, so it's important to get independent advice from an expert," said Mr Rodger.
He noted that there are a number of options available, including bankruptcy and loans, but emphasised the importance of finding the "best debt solution for you", depending on employment status and amount owed.
His comments come after Neil Munroe, external affairs director for Equifax, suggested people talk to the firm that gave them a loan in order to resolve their deficit problems.
Mr Munroe stated that as a greater number of people are facing monetary issues, lenders are more likely to want to negotiate terms of repayment.
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This is the opinion of David Rodger, managing director of the Debt Advice Foundation, who stated that many consumers who are struggling to make ends meet may need help to get their finances back on track.
"Bad debt advice can cause the situation to get worse, so it's important to get independent advice from an expert," said Mr Rodger.
He noted that there are a number of options available, including bankruptcy and loans, but emphasised the importance of finding the "best debt solution for you", depending on employment status and amount owed.
His comments come after Neil Munroe, external affairs director for Equifax, suggested people talk to the firm that gave them a loan in order to resolve their deficit problems.
Mr Munroe stated that as a greater number of people are facing monetary issues, lenders are more likely to want to negotiate terms of repayment.
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Published: 09/08/2011
The information in this article was correct at the time of publication and contains time sensitive data and links, it may not be accurate at the time of reading.