Debt Management Companies-Charity V Commercial Options

The UK market for debt advice and debt management includes less than reputable debt management companies, some very professional debt management companies and charities offering the same solutions for free.

So if you are having debt problems one of your first thoughts could easily be, why pay for this service if you're already having financial issues when you can have it for free. On face value this makes absolutely perfect sense and choosing debt management companies should then be a simple step of finding out about which one or ones are charitable and contacting them.

However any logical person will realise that there may be a good reason why there are almost 400 UK debt management companies when charities for this industry also exist.

Let's compare both types of debt entities. A debt management charity offers free anonymous advice and free debt help online. The UK charities for debt will help you with impartial debt advice and debt counselling. On these charity websites people are encouraged to avail of the online facilities for debt management although there may be a phone number which you can phone.

However even if you do decide to phone as a charity it is most likely that you will speak to different people regarding your life-changing debt problem. This may not always be the case but it is far more likely than when you are paying for the consultations and debt management plan.

This is where one of the main differences can be seen between a charitable debt solution and one that you decide to pay for with a commercial debt management company. If you are paying for the service with a reputable debt management company, the help you will get is personalised. In many instances you can expect to be assigned a specific debt management consultant who will be there with you throughout the duration of the debt management plan to initially prepare it and advise you and then to work with you in following through on the plan.

Another issue which can't be ignored is the difference of the type of entity itself. Some charities are excellent organizations with a very high calibre of personnel working for them. However in the case of many charities there is a lower possibility of performance and accountability as there would be in a commercial organisation. Like it or not this is the nature of the beast. There will of course be exceptions to the rule, there always is.

Finally when it comes to the preparation and implantation of the debt management plan, the initial foundations that are laid down are crucial to your ongoing everyday life and to the solution working as well as possible for you and your family over the coming years and months.

A commercial debt management company, presuming it is a reputable and professional one, is working on your behalf as a commercial entity and is far more likely to have the time and resources to get results. Debt management companies can deliver results such as having the charges and interest frozen on your debts, which when you think about it should save more than the fees that you are paying to employ their services.


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Jackie discusses debt management, investigating the charity options versus the commercial options. She writes for the blog of Abbot & Edwards which is a UK debt management company, which falls into the category of commercial debt management companies. Their team work hard and professionally to help you.