The consumer debt advice sector in the UK is poorly regulated.  Basically, anyone wishing to setup as a debt advisor, pretty much can do as long as they obtain an OFT Consumer Credit License, which is, in truth, more concerned with evaluating an applicant's grievance and money laundering procedures than what constitutes the basis of the applicant's advice.  This isn't the OFT's fault, there simply has been no appetite at Government level for regulating advice in the UK.  That's why, if you're experiencing financial difficulties, it's vital that you arm yourself with as much knowledge as possible, before seeking advice from a 3rd party.  That way, you can be much more comfortable about what you're being told is correct. There are a number of solutions to a debt problem, which one is best for you depends on your financial and professional circumstances. Bankruptcy Bankruptcy can .. more»