With the increase in debt in the UK, the number of Debt Management Companies has also increased dramatically over recent years. Whilst most of these companies are professionals working entirely in the interests of their clients, there are some who do not and they promote themselves as free fee services or as charities.
If a company doesn't charge for their debt management plan or service, there could only be one or two reasons why this could be. Either they are a legitimate charity like the Citizens Advice Bureau (CAB) or they are being funded by someone or another organisation. That other party could well be the creditors you actually owe money to.
Obviously, in this situation there is a clash of interests and the debt management company can not possibly claim to be giving impartial advice to YOU.
FACT: Apart from charities there are very few companies in Britain who are willing to work for nothing.
If you are currently with a free debt management company who doesn't charge you for their services, ask them how they are funded and who funds them. You may be surprised by the answer!
At Lewis Alexander we make no secret of the fact that we do charge for our services. These charges are for working for YOU with YOUR interests at the heart of everything we do. These charges are accepted as fair and proportional within the industry and are all above board and agreed up front.
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