Complaints about fee-charging debt management firms are some of the most upsetting cases I see, says Juliana Francis of the Financial Ombudsman Service.
Poor debt advice can leave struggling people trying to make repayments that they cannot afford. And rather than helping them, bad advice can push people into a cycle of problem debt that be almost impossible to escape.
On top of that, debt problems can lead to mental health issues, such as depression. Put together than can leave people who have responsibly done what they can to try and deal with their debt rather than walk away from it, being unfairly penalised by their own actions.
Last year the Financial Conduct Authority warned that many debt managers do not follow…
Read the full article at: http://www.independent.co.uk/money/lets-be-rid-of-these-debt-advice-rogues-a6948186.html