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Shopping Around
Many UK organisations provide debt solutions but the industry is unregulated. It means that the standards and costs of debt solutions can vary enormously.
If you are shopping around, there are some important things you need to ask - to help you to get the best deal from any provider. Before signing up for anything, make sure you are happy with the answers you get to the four questions below. Some notes on what to look out for are included.
Is initial advice free and without obligation?
Organisations to avoid include those asking you for initial payments before recommending anything. All ClearStart advice is free, with no obligation to follow our suggestions.
Are there additional charges after the free advice?
Most organisations will not ask you for upfront payments before your plan starts, and this includes ClearStart. However, 'additional' charges can sometimes creep in so beware of any requests for payments before your plan starts.
How long will the proposed debt plan last?
Some debt advice organisations will suggest very low monthly repayments. These may sound attractive, but small payments will make your debts last far longer and make lenders less likely to freeze interest or write off some of what you owe. That could mean your debts last indefinitely. Make sure you always ask how long a proposed plan will last before making your decision.
What fees are charged over the solution's lifetime?
It's easy to advertise yourself as 'free' but many organisations make claims that need closer examination:
- Initial advice should always be free – it is with ClearStart.
- Debt Management Plans can also be free to you – this is the case with ClearStart (in fact, we go further and pay your last two contributions for you).
- IVAs have to follow rules set by the lenders and so fees will always be deducted from your set monthly payments. This is true for all organisations, including ClearStart and charities.
Three steps to a better future
Prepare
Any debt solution starts with the facts. Write down:
- Debts on cards and other loans
- What you earn every month
- What you spend every month
Apply
Contact ClearStart using our online form or by calling
0800 988 9345.
Choose
Review our recommendations and then tell us how you'd like to proceed. We can start dealing with all of your creditors straight away.
Apply online
Find out which debt solution is best for you.
Call us on
0800 988 9345
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