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Rogue debt management services warned by OFT
10 April 2008
A number of rogue debt collection companies have been censured by the Office of Fair Trading (OFT) for using illegal techniques.
The OFT has revealed that 13 companies across the UK have been warned about their future conduct – some were warned after chasing consumers for debt that they did not owe, while others bypassed third party representatives such as Citizens Advice.
The OFT has warned consumers with debt problems to only seek professional debt advice.
David Philpott, OFT deputy director of consumer credit, said: "One of our main priorities is to protect consumers who may already be vulnerable as a consequence of serious debt problems."
Earlier this month, the OFT forced Clydesdale Financial Services to reduce store card default charges, after they were linked to consumers` debt problems.
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