Friday, September 12, 2014

When and How to seek an advice on debt

It is always very stressful to handle financial problems as a business. If your debt problems are too much and you can’t improve your financial situation yourself, there is often help and advice available to help you. You may borrow money to deal with your financial problems in short term but always consider the risks fully as it can be dangerous in the long term, you could end up paying more. Always be careful when seeking advice or finance, such as:

1. Avoid illegal loan: they are not licensed and often charge high interest rate. To check that the lender is licensed, you can search the Consumer Credit Register with the OFT.

2. Always check the credentials of an organization before you contact with them. You should also check that an organization is accredited by the Financial Services Authority and establish what kind of advice through internet or telephone research.

3. Search around for the best deal and try to seek free advice first.

Professional Advisers

Professional advisers provide good financial and debt management advice. If you already use an accountant, they may be able to help. And if you do not work with one, then find an accountant who specializes in your industry or financial problems.

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