How Do You Find The Best Debt Management Program For You?

What is the best debt management program for you?

This is always a tricky question to answer. Back in my old mortgage adviser days, I have had more people than I can remember tell me that 'I just want the best'. Well, the UK mortgage market has something like 4,000 different deals available at any one time. The best, in such circumstances, is obviously a rather subjective thing.

So firstly, is there such a thing as the best debt management program? In all honesty, probably not. Sorry to disappoint you. However, everyone has a different set of goals and circumstances. This means that it is very difficult to compare like with like. Worse, the decision about what is 'best' needs to be made by the person who is (often) least qualified to be making such a decision, the customer.

Here are some guidelines I would suggest:

1) Can you get a recommendation? If you can, from someone you trust, ask about their experinces. Is it working for them? Is the customer service good? Do they get all the information they need to make rational decisions?

2) Do you trust the person you will be dealing with? Sure, he or she is in sales, so it is their job to be liked and hopefully trusted. But do you really trust them? You will be working with them for a long time and sharing some private information and probably, troubling experiences. You need to want to work with them and they need to want to work with you. Can you feel that?

3) Can you get a recommendation from a professional? If you speak to a mortgage broker, you can bet that they will have had some dealings with other debt professionals, or have clients that have had dealings. What can they offer as guidance? They might even know the people involved personally. Who would they recommend? Then ask who they would recommend if you were family...

Think carefully about this decision and understand that the best debt management program needs to be the best FOR YOU. If it isn't, it isn't!