Sponsors

User login

Watchdog OFT shuts down web sites

 

 

 A report from the BBC advises us that the Office of Fair Trading (OFT) is taking action against more than
a dozen businesses which set up repayment plans for people struggling
with debt.

 These are apparently debt advice business that are using web sites with names that could confuse the public into thinking they are official bodies.  The OFT have not named the web sites or the firms.   If you are seeking debt advice it is clear that you should be extremely cautious about where you go to get that advice.

 "There is a danger that with increasing unemployment, more people could run into financial difficulty and we are concerned that at the point where they are most vulnerable and seeking advice, they are being deliberately misled by people who are trying to gain a commercial advantage from them," says Ray Watson, director of credit at the OFT.

"We believe they are misleading consumers by holding themselves out as free advice agencies such as Citizens Advice, the Consumer Credit Counselling Service, the Money Advice Trust and Advice UK." 

Why the OFT should be keeping these firms details a secret is a mystery to me  Check the OFT web site and use the links on that and on the CAB web site to be sure you are talking to who you think you are talking to. 

 Check the The OFT News Room  as well as the BBC article on this story here.

 

Sources:





 

The OFT are apparently


The OFT are apparently prevented from publishing the names of these sites due to legal restraints. They will only be allowed to publish if they are forced into taking legal action. I am told from other sources that most of the sites have now been taken down. More news when we have it.