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Latimer Hinks Solicitors Logo

Insolvency Expert Comments on OFT Debt Management Report

Mark Gardner, insolvency expert at Latimer Hinks Solicitors, believes that desperation can lead to people finding themselves drawn into problems with unscrupulous debt management companies.

Mark Gardner, Latimer Hinks Solicitors
PRLog - Sep. 28, 2010 - DARLINGTON, U.K. -- A report by the Office of Fair Trading has today highlighted bad practice from debt management firms.

Mark Gardner, who has been helping clients to deal with insolvency issues for more than 20 years, said: “The first thing to remember is that not all debt management firms are bad eggs, some genuinely make an effort to help people out of the problems they find themselves in.

“However, I have had countless experiences where clients have found themselves in more serious trouble by going to the wrong firm, leaving them desperate and sometimes even suicidal.

“When people are faced with a multitude of debt problems, often they simply cannot see a way out. I had one woman who came to me some years ago, who had already bought the tablets and alcohol with which to commit suicide. When I sat her down, we were able to work out a much more manageable solution.

“Another case involved a client who had been given a 50-year repayment plan, when other routes could have solved the problem within a couple of years. Some of the people in these situations can find themselves paying more money to the debt management firm each month than they actually pay off on their debt.

“The best thing to do is not simply leap into the first solution that appears and to talk to independent experts who do not have a direct vested interest in the method of resolving the problem.”

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At Latimer Hinks we will provide clear, concise and practical legal advice to private clients, business and commercial clients and farmers, landowners and landed estates.
Our objective is to deal with matters quickly and efficiently.

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Contact Email:
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Source:Latimer Hinks Solicitors
Phone:01325 341500
Zip:DL1 1NL
Location:Darlington - County Durham - United Kingdom
Industry:Legal, Government
Tags:debt, oft report, latimer hinks, mark gardner, solicitors, insolvency, bankruptcy, debt recovery
Last Updated:Nov 08, 2010
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