Debt Crisis 7 - Diy Or Intermediary

Whatever route you take to controlling your debt the task is going to seem daunting. There is little you and there is this giant clever company filled to the brim with people out to get the money from you.

Sort of! Anyway you feel the need to hide behind some sort of protection.

So you cast about for someone, anyone, who will take on the task of defending youlittle Davidfrom these big bad giants. But there is my clue: little David. Remember the Biblical story of him slaying the giant, Goliath? And cutting off his head just to make sure.

I am not sure I recommend the latter, but if you do go DIY you are not undefended.

So, when you make that choice think rather of whether you have qualities which make you able to resist pressure and compose letters. And even if you dont at the starting point, whether you would like to give it a go.

You can always change later to using an intermediary if you find it too muchthough in my experience it gets easier as you understand the companies.

If you do decide, at any point, to go for an intermediary you have many choices. And here you will have to exercise a lot of care. There are charities who will do it and there are commercial companies.

Charities do not charge for advice, and do not charge to act as intermediaries [at least that is the impression, but there may be administrative charges for some actions]. Commercial companies may or may not charge for advice but they most certainly charge to act as intermediaries.

Now you may think it worth paying that charge, and that is your choice of course. But make sure you know what the charge(s) are and what difference those charges make to your clearance of debt. The companies themselves are quite coy about revealing that information.

I have tried to develop a step by step approach to the DIY route because I believe that is the way that best serves your interest as the debtor. In that I show how to use all the rules that are in your favour and how to prepare the letters you must write, and so on.

Whatever you do prepare for a long hard road; the journey will be worth it. And at the end you will have a much better idea of whether you want to borrow money again!