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If you have had problems with fee paying debt management company you can complain about them to the OFT with this http://www.oft.gov.uk/shared_oft/bus...tcomplaint.pdf or the attached form.
Henry Aitchison
Office of Fair Trading
1C/012
FREEPOST
London, EC4B 4AH
or e-mail: Henry.Aitchison@oft.gsi.gov.uk
If you have any problems completing the form or any other queries, please phone either Marion Newrick on 020 7211 8951 or Henry Aitchison on 020 7211 8466.
The guidance includes the following requirements:
- consumers must be given adequate information before entering into an agreement. Contracts should specify the nature of the services provided, total cost to the consumer, amount to be repaid and duration of the contract. Contract terms should be fair, legible and in plain language
- a realistic assessment of the customer's financial circumstances must be made before advice is given, including verification of income and regular outgoings and any advice must be in the best interests of consumers
- debt management companies must inform clients of the outcome of negotiations with creditors, as well as any developments with creditors such as the issue of default notices or the threat of legal action
- advertisements and marketing must be accurate, clear and not misleading. Any reference to 'savings' on repayments must make it equally clear that debt rescheduling will usually lead to an increase in the size of the sum to be repaid and potentially affect the consumer's credit record
- no cold calling by personal visit
- payments from consumers should normally be passed on to creditors within five working days of receipt of cleared funds.
Henry Aitchison
Office of Fair Trading
1C/012
FREEPOST
London, EC4B 4AH
or e-mail: Henry.Aitchison@oft.gsi.gov.uk
If you have any problems completing the form or any other queries, please phone either Marion Newrick on 020 7211 8951 or Henry Aitchison on 020 7211 8466.
