A price comparison site has cautioned consumers regarding their choice of a debt management company, to relieve them from their money troubles.

Tim Moss, head of loans and debt at the website, made his comments after the organisation announced that it would only list Debt Managers Standards Association-accredited businesses on the site.

He pointed out that for some people, the free service offered by debt charities is not as quick or personal as they require, so they opt for a paid-for service.

However, consumers must be aware that some companies are looking to take advantage of "vulnerable" people, he continued.

Mr Moss said: "We have heard many horror stories of debt management companies on our forums, including some taking up to six payments from a customer before even contacting the customer's creditors."

This week, research by the website revealed that 37% of people felt deceived when they were informed that the cheapest debt is paid off first on their bills.