Debt clearance
The amount of spam emails offering debt clearance we’ve been getting at Walletwatcher recently is rather ominous (or perhaps entirely predictable) and very much a sign of the times as Britain heads into recession.
Some of these are extraordinarily polite and plausibly well written (a human hand is at work here, hence them skipping the spam filters) but they are just as worrying. We hardly need to say that we won’t be pointing Walletwatcher readers in the direction of debt clearance companies, for the simple reason that they don’t actually clear your debt at all. Anybody who offers to remove all your liabilities in one easy stroke (often by consolidating existing debts into a new one) isn’t telling you the whole truth.
At some point, needless to say, you have to repay the cash, and this is why you should be looking very carefully at the terms, conditions and interest rates involved (and avoiding secured loans like the plague). I’ll be looking at this in more depth in the podcast in the next couple of weeks.
