Debt forums and how to get the most out of them

Wherever you are in your journey out of problem debt, online debt forums can be a useful source of information and a way to connect with people going through a similar experience as you.

But as with so many things online, it can be hard to sort the good advice from the fake news. Some forums can be a good place to hear from people who know how it feels to be in your situation. However, they won’t necessarily provide you with accurate, up-to-date information that’s applicable to you. So we’ve created this guide to help you navigate the world of online debt forums. Read on to find out what you need to know.

What is a debt forum?

The short answer? A debt forum is an online community where people discuss debt. Some are associated with broader advice and information sites like MoneySavingExpert. Some forums stand alone.

But beyond that, a debt forum is what you make of it. You might be able to find all the information you need by reading other people’s posts. But you can also post your own questions, which will help you to get information about your own situation, and to feel like part of a community who all have common experiences and goals. Some debt forums have experts on hand, too.

Which debt forums are the best?

There are a few of them! Do a Google search – but we’d suggest searching the term ‘debt forums UK’. Otherwise you’ll come up with lots of results from the US, which aren’t likely to be relevant to you.

Three UK-based debt forums we like are:

How should you use debt forums?

We suggest you treat debt forums as a source of information, and as a valuable community; but that you don’t make any decisions regarding your debts based solely on what you find there.

On IVA.co.uk, for example, we found a lot of great information. But we also found some incorrect advice – and some answers, like the one below, that don’t answer the question being asked.

Another big issue with relying on debt forums as a source of advice and information is that different people need different debt solutions. An IVA might have worked really well for one individual you read about online; but it won’t necessarily be the most suitable solution for you. It depends on your income, the amount of debt you have, where you live, your home, maybe even your job – lots of different factors.

So where should you go for debt advice?

To get debt advice that’s right for you, you really need to speak to a source of expert debt advice. They will listen to and understand your individual circumstances before recommending a course of action. That could be a debt solution, or it could be advice about dealing with your debts on your own.  Take a look at the different debt solutions [link] available and find out how to get expert advice.

Share

Sophia is Financial Wellness Group’s Senior Copywriter and is committed to helping people understand and take back control of their financial wellbeing.