Hi TDA

It would be interesting to see if the rise is due to the incessant tv and radio advertising.

I've always found the advertising thing quite curious. They advertise their expertise in all things insolvency and then when you call them, you get someone answeing from a commission based call centre!!

Mark

Hi Mark, TDA
It is interesting but do those figures reflect a bigger market and explain the need to advertise to ensure market share or do the adverts themselves create a market.?

I'm also aware of an increased level of ads, both on TV and radio. I don't read newspapers and watch little telly but often have the radio on in the car.

I wonder if it is me being more aware because it's become relevant personally or if I am genuinely hearing an increased number of adverts.

I think the figures reflect the fact that many banks loaned more to customers than the customer could really afford and the increases in fuel and food costs combined with wage freezes or reductions has pushed many over the edge and into a downward spin.

The figures will rise again next year,we are simply nowhere near the peak of this period of difficulty and thats before the base rate rises(no time soon I hope)!!!

Paul(harvester of doom)

Everything you say Paul is correct, IMHO, current figures are the tip of the iceberg.

Personally, I do think the adverts result in the notion of help being available which will generate enquiries, as well as the numbers of people struggling still going up.

Hi all

I think its correct that there is a bigger market out there. My concern with advertising is that people entering into discussions may be 'guided' along certain routes which benefit the company and not the individual.A number of posts on the forum would confirm this.

I still find it incredible that there are people in trust deeds who have no idea what the position is/will be regarding equity, contributions, overtime etc etc and therein lies the danger.

Mark

One the one hand it is surely good that more people are made aware of their options due to the increased marketing - certainly I see many people who should have entered trust deeds years ago and have been struggling along for far too long, unaware of what they could do.

However, if there is one thing that this forum has taught me it's that a person's experience of a trust deed can differ dramatically depending on who they sign up with., so I just hope that anybody out there thinking of this tries to be as dsicerning as they can!

I don't think that there's anything wrong with advertising. Indeed the welcome increase in the number of people using the debt arrangement scheme (probably instead of informal debt management plans) announced this week by the AIB has partly resulted from AIB and commercial adviser promotion of DAS as an option.

Increased awareness that there are ways to deal with debt that has reached an uncontrollable position seems a very good thing, especially compared to the pain and misery that can be associated with feelings of being trapped by debt.

As Kevin has pointed out though, like every other industry there is a variance in the quality of advice and implementation of solutions between providers.

A lot of the problems we read about on this site result from people moving very quickly to accept the first helping hand offered to them. That's completely understandable given the problems that debt can cause (and I'm not critcising in any way people that have done this). I can only urge readers considering taking steps to deal with debt to take their time to find the best advice and service providers that they can before making any final decisions.

I always suggest people get advice from 2 or 3 sources rather than jump at the 1st friendly helpful company(they will all be friendly to start with!!!).

Take your time when choosing and ask lots of questions.

Paul

I agree TDA, adverts can be the first awareness for some re. solutions existing. Like Paul says, if they can get a couple or six further opinions it's best. Desperation probably pushes things ahead though. The thought of carrying on with a burden whilst some person or company (promises they) can just sort it all today can be difficult.

Are the advertisers responding to a need, or creating a market? It's hard to say.

I'll confess to trying out a few of the sites linked to the bigger advertisers of trust deeds. You can't actually use their 'trust deed' calculators unless you fill in contact details.

If you happen to have an email address which you only use for online competitions etc, then you can get to the stage of using the calculator.

You'll find that nearly any combination of debt/disposable income will give you the feedback that a trust deed 'may' be right for you. Even if you have given them information which shows that your assets are greater than your debts.

If your debt/disposable income combination means that you could pay off your debt in less than five years, you may (may) get the message that DAS may be right for you. Unfortunately, when you click on the link for DAS, you go to the Trust Deed part of the website...

Your 'competition' inbox also fills up with emails from the company/companies...

As for the increase in the uptake of DAS, there has also been a huge increase in the number of money advisers who can deal with it now. CAB/Council advisers as well as the commercial sector.