/24-7PressRelease/ - LONDON, UK, November 28, 2006 - Debt Free Direct, a company engaged in providing independent debt advice, says that consumers need to have good debt advice.
Increasing number of personal loan holders are falling prey to debt problems. The lack of proper advice is cited as one of the main reason for the debacle.
The company says that many consumers are not receiving good advice about how to deal with debt as there are no accreditations or clear regulations for debt advice companies or standard ways to deal with clients. This makes it all the more difficult for the consumers to deal with the debt advice companies.
The company proposed more accreditation and regulation of the industry so that consumers could be sure they were getting a good deal. There are large number of debt advisors in the financial market and therefore some sort of accreditation and regulation of the industry is needed to set the things right.
Debt Free Direct warned that they were expecting a record number of Individual Voluntary Agreements in the coming months as consumers continue to take on debts that they often find hard to cope with.
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