Articles Comments

Debt Relief – Insolvency – Bankruptcy Information » Insolvency » Choose a recognised debt management firm

Choose a recognised debt management firm


People with debt problems are advised to make sure they pick a reputable debt management company, after a group of Cheshire-based firms were shut down. The companies were taken to the High Court following an investigation by the Insolvency Service, on the grounds that they were operating against the public interest. The court heard that the firms had initially offered debt management services, but the investigation discovered that over time, less of the money that was paid to them actually went to creditors. It also revealed that a number of directors had been making substantial cash withdrawals to lease expensive cars and purchase Rolex watches. Colin Cronin from the Insolvency Service hopes that this action will send out a clear message to firms which use “deliberately misleading offers” that such action won’t be tolerated. Kevin Still, director of Atlantic Financial Management, says: “Trust is a fundamental part of the long-term relationship between you and your chosen debt solution provider. “Retention on your Debt Management Plan (DMP) or IVA are crucial measures of success along with the ability to get interest & charges frozen on a DMP. The debt solution providers credentials information should be available for all to see on their website, including licence information.”

RELATED POSTS:

  1. What happens when my debt management planner or Trust Deed and IVA Insolvency Practitioner goes bust? In recent months, the debt management program planners DCM have gone into liquidation, last year it was the turn of...

  2. Avoid Bankruptcy through Personal Debt Management Personal debt management is easier said than done. No person chooses not to pay his or her bills. If you...

  3. What Bankruptcy Software Should I Choose for My Law Firm? A review of the top three bankruptcy software programs; New Hope, EZFiling and Best Case. This video will help...

  4. Which Debt Management Solution Is Best For You? With consumer debt levels reaching record proportions, more and more people are seeking help from debt management professionals. However, there...

  5. is there a advantage of debit management solution companies? I accumulated lot of debit on my credit cards, I am planing to work with debit management solution companies, instead...

Written by

Filed under: Insolvency · Tags: , , , ,

Leave a Reply

Connect with Facebook

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Not finding what you're looking for?
Do a custom search of our entire site:

Get Adobe Flash player