IVA debt companies are for the most part, simply lead generators for genuine Insolvency Practitioners.

This is because IVAs or Individual Voluntary Arrangements to give them their full title, can be quite lucrative for the company providing this service, hence the increase in the number of firms offering debt management, insolvency and bankruptcy services on the net.

In our opinion, there is nothing wrong in a company charging fees for a particular service, as long as that same company offers value for money and a service that is commensurate to the fee charged. Unfortunately, the rise in the number of personal insolvencies over the last two years has meant that firms operating in other areas of financial services such as loans and mortgages have seen an opportunity to make hay, very often at the expense of the unfortunate individual who is suffering from severe debt problems.

There are a number of firms operating in this sector that simply do not have the best interests of the client at heart. To remedy this growing problem in the debt management sector, a national trade body representing a large number of debt management and IVA firms has been formed which aims to introduce a set of guidelines and procedures that will standardise how debt management firms will go about marketing for new business and also how to communicate and transact ethically and transparently with consumers.

Which debt management firm can you trust?

Debt Resolution Forum (DRF) now represents a large proportion of debt management firms based in the UK. DRF is not the only trade body, there is also an organisation called DEMSA which has a similar brief and was formed some time before DRF came into being.

What does all this mean? It simply means that the consumer that is faced with a barrage of debt management calls and literally thousands of websites now has a much simpler way of finding a firm they can trust. They simply look up IVA or debt management plan in their web browser and check each of the firms to ensure they are members of one of the two trade bodies.

This simple debt check will save a lot of pain and hassle in the long run and should ensure that a consumer who is facing insurmountable debt problems now has a clear idea of which IVA company to trust and which not to. You can find out more by visiting http://www.ivahelp.net.