When looking for debt advice UK wide, one of the sources often cited is the Citizens Advice Bureau. The stated mission of this particular charity is to provide sound advice to consumers regarding issues that are pressing on their minds. Foremost among the advice offered by the Citizens Advice Bureau is debt consolidation, as well as advice on bankruptcy and other options open to consumers who find themselves in dire financial circumstances. While there are many supporters of the bureau, there are also detractors who raise valid questions about whether consumers benefit from utilising the resources it provides or if their interests would be better served by seeking debt consolidation advice, along with other forms of financial information, from a different source.
The Citizens Advice Bureau relies heavily on the assistance of volunteers to manage the requests for information and help that are received each day. Often, the volunteers are professional debt advisors who offer some of their time each month to help people who are in need. At other times, the volunteers are less informed and up to date on issues such as bankruptcy law, changes in the qualifications for an IVA or even on what is happening in terms of laws that impact the function of debt management and consolidation options.
The citizen’s debt advice that is obtained from the CAB should be double-checked with other sources. This makes it easier to identify any information that may be outmoded or is incomplete in some manner. Doing so will typically accomplish one of two things. First, the double check may confirm that the information obtained from the debt advisor via the CAB is in fact up to date and complete. When this is the case, the consumer can move forward with confidence and make informed decisions on how to proceed.
At other times, the double check may reveal that the citizen’s debt advice obtained through the CAB was not as complete or as accurate as the consumer first thought. When this is the case, verifying the data with other sources makes it possible to fill in the blanks, update the information and avoid making what could have turned out to be a rash and ultimately damaging financial move. From this perspective, taking the time to verify data from more than one source makes it possible to reach a responsible decision regarding which strategy to use in settling debt and getting back on an even financial plain with as little difficulty as possible.
While many see the Citizens Advice Bureau as the best way to get advice on dealing with debt, it should be viewed as only one resource among many and not necessarily always the best source. Take the time to obtain information on debt management and settlement from more than one source and your chances of making the right decision and getting out of debt in the timeliest manner will be greatly enhanced.
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