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Debt Management
Debt Management Report Released by The Debt
Counsellors
To improve awareness of debt management and to highlight the
potential pitfalls surrounding debt management programmes, The Debt
Counsellors have released The Debt Management Report.
(PRWEB) June 18, 2006 -- Debt help experts The Debt Counsellors
have released The
Debt Management Report to raise awareness of debt management and
draw attention to the potential dangers of debt management programmes.
The total of personal debt in the UK is in excess of £1.1 trillion
and thought to be increasing at a rate of around £1 million every four
minutes.
Because of this, debt management programmes, whereby a company takes
control of someone's debt and deals with the various creditors in
return for a set monthly fee, are increasing in availability and
popularity.
However, as The Debt Management Report points out, extreme caution
should be employed before signing up to such an agreement because too
frequently they serve only to make the debt problems worse.
John Porter of The Debt Counsellors explains: "Debt management
programmes can seem attractive because the amount being paid monthly
might be less than the cost of servicing all the individual debts. But
in some cases, the term of the agreement is longer so the debtor ends
up paying out more."
The Debt Management Report highlights this issue and explains the
other pitfalls associated with debt management programmes, as well as
giving details on the alternative solutions to serious debt.
Porter adds: "People should think very carefully before opting for
debt management because often there are much more viable alternatives
available to them. The Debt Counsellors, therefore, advise anyone
considering a debt management programme to read The Debt Management
Report first, and then seek professional debt counselling for more
information."
The Debt Management Report can be viewed at
http://www.debtcounsellors.co.uk/reports/debt-management-report.html
For further debt advice and information on debt management, visit
http://www.debtcounsellors.co.uk
Source: www.prweb.com
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