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Consumer Minister Ian McCartney urges borrowers to call free debt advice services rather than loansharks

By: Darren Ferneyhough Consumer Minister Ian McCartney has advised beleaguered borrowers to take advantage of free debt advice services ahead of resorting to dealing with loansharks.

Of course, even where debt refinancing is recognised as a suitable tool to alleviate a borrower's, there are often suitable solutions available from reputable providers such as The Loan Helper, negating the need to go to loansharks at all.

Sadly however, beleaguered borrowers often believe that their situation is so dire that no-one but the loansharks will help, but again, reputable loan providers often have solutions even for consumers with poor credit history due to having CCJs, defaults or mortgage arrears and even bankruptcy orders, more information on this is available at at www.theloanhelper.co.uk

Minister McCartney, who will open a new London office for the Money Advice Trust (MAT), which runs National Debtline, said that many people did not realise that free, impartial support was at hand to help them avoid debt problems.

"My advice to people struggling with debt is to pick up the phone - there are people who can help you find a solution and avoid the sharks."

Minister McCartney, who recently visited Illegal Money Lending Teams cracking down on loan sharks in Birmingham and Glasgow, said:

"Loan sharks are lowlifes whose primary purpose is to rip you off. Many of them will resort to intimidation and violence to take money off the most vulnerable in our communities who know of no other borrowing options.

Often it feels like there is no alternative than to turn to loan sharks but many people don't realise that debt advice and information is available for free. National Debtline is there to help."

National Debtline's advice includes talking to lenders at the earliest opportunity to explain your difficulties, and not to give up trying to come to an agreement regarding repayment terms even if creditors are difficult.

The DTI supports the many aspects of MAT's activities; in particular, by providing Â£1,000,000 annually to National Debtline.

The Government is also providing Â£47,500,000 in a two-year programme to fund face-to-face debt advice, helping resolve debt for tens of thousands of individuals.

This funding will pay for over 500 new debt advisers to help people get their finances in order, and will fulfil the Government's commitment to achieve a step change in the availability of debt advice.

As part of the Face-to-Face Debt Advice project, financed by the Financial Inclusion Fund, the Money Advice Trust is providing training for the majority of the advisers due to be recruited over the next two years.

Consumers can call National Debtline, on 0808 808 4000.

Article Source: http://www.lifeweightloss.com

Darren Ferneyhough is head of marketing at The Money Helper and renowned for his experience in a number of areas in the UK financial services market. Darren currently writes for Loan-Sense and Mortgage-Sense as well as being instrumental in the design and strategy of the consumer loans site The Loan Helper

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