Advisory service to help debt-ridden Australians

chief-executive/

20 September 2006
| By Liam Egan |

Listed UK debt advice company Debt Free Direct has launched a subsidiary in Australia offering a debt advisory service to Australian consumers.

Debt Free Direct Australia offers “free advice to hard-hit consumers seeking a way out of their spiralling circle of debt,” according to chief executive Cliff Sanderson.

The advice includes offering consumers a “range of workable alternatives to extreme measures such as bankruptcy”, he said.

These range from “basic advice, such as destroying credit cards and identifying and curbing unnecessary expenditure to re-mortgages and consolidation loans”.

Sanderson said the company is “unique in working with people to discuss the best solution to their debt problems based on a thorough analysis of their financial situation,” he said.

Financial information is “offered via a free advice line and processed through a specialised computer profiling system, developed by Debt Free Direct in the UK.

This modelling enables the company to make a detailed analysis of a client’s circumstances and in turn propose a detailed strategy to help return the client to solvency.

Sanderson said some clients will be given the option of entering into an “official debt agreement”, whereby they formally agree to conform to Debt Free Direct advice until their outstanding debts have been cleared.

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