As a bfa member, EuroDebt has also been vetted against a strict code of business practices, which is crucial for the financial services sector in which the business operates.

Established for over 10 years, EuroDebt currently has a network in excess of 65 franchisees, all of whom are licensed debt adjusters. The company has ambitious plans to extend this network to provide debt management advice and support across all major conurbations in the UK and the bfa accreditation will play a key role in achieving this goal.

EuroDebt is unique in the debt management sector because it operates a policy of making a home visit with every potential client. This gives the debt advisor the ability to assess an individual's financial situation in detail so that the best possible advice can be given in respect of addressing their debt situation.

Following the home visit, the EuroDebt franchisee, who is trained to assess and offer advice to consumers struggling to manage their finances, compiles a 'client financial planner' which is provided to EuroDebt's team of Case Managers and Legal Advisors. Once the client appoints EuroDebt, this team then negotiates with the individual's creditors, debt recovery companies and enforcement agents to bring the debt situation under control.

EuroDebt passed a stringent process to become a bfa member, including providing evidence to illustrate that the service is attractive to potential franchisees. The company also demonstrated that the service adheres to a strict ethical code of conduct in advertising and recruiting franchisees.

Published: 11 May 2007

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