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UK authorities cracking down on misleading debt adverts

The UK authorities have launched a major crackdown against misleading debt adverts which have caught the eye of many UK consumers only to turn out to be substantially different in reality. There are growing concerns that some rogue debt management companies are using the current financial crisis to increase panic and concern amongst UK consumers and take advantage of their worsening financial position.

The truth is there are ways and means of reducing a person's debt via financial planning, debt consolidation, debt management, IVAs, trust deeds and potential bankruptcy. However, professional financial advice should be taken at all times to ensure you are taking the right actions for your particular circumstance. There are legal and regulatory frameworks in place to assist with the reduction of financial hardship but many of the rogue debt management companies targeted by the government appear intent on offering a quick solution which is not always viable.

Those who are suffering financial hardship in UK need to address their problems as soon as possible rather than let them grow and grow to a point where their options are substantially diminished. Financial institutions such as banks and credit card companies are more likely to be sympathetic to your cause if you make them aware of changes to your financial situation as soon as possible rather than tell them much further down the line.

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