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Credit card holders 'must not pay' for debt advice

04 February 2010 16:48:47

Charity advises against paying debt management companies. image
Charity advises against paying debt management companies.
Credit card holders have been warned against using fee-charging debt management companies if they are concerned about their finances.

The Consumer Credit Counselling Service (CCCS) has revealed that it received over 335,000 calls to its helplines last year, representing a 19% increase from the 2008 total.

However, the charity is still worried that Britons are affecting their credit records by taking too long to pay off debt as a result of unnecessarily paying for advice.

"It is a myth that fee-charging debt management companies provide a faster service than the free debt counselling and support that debt charities such as the CCCS provide," said Delroy Corinaldi, director of external affairs at the CCCS.

"We have seen a rise in demand for our services over the past few years and have deliberately increased our capacity to meet this demand."

In addition to its helpline, which is open from 08:00 to 20:00 GMT from Monday to Friday, the CCCS offers an online debt management tool called 'Debt Remedy'.

Another debt charity, Credit Action, revealed recently that the average Briton owes £4,700 on credit cards, personal loans and overdrafts.ADNFCR-2196-ID-19598209-ADNFCR ADNFCR-2196-ID-19464191-ADNFCR

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