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OFT warns ten 'Debt Management Companies' over cold calls
rog2
Posts: 11,650 Forumite
The Office of Fair Trading has warned ten firms - six 'debt management companies' and four 'cold calling companies' - that they face formal action if they fail to stop the practice of 'cold telephone calling' to advertise their 'services':
http://news.bbc.co.uk/1/hi/business/8066253.stm
The OFT says that this is the result of a large number of complaints and that it is 'completely unacceptable for Companies to take advantage of people with debt problems...and this practice of illegal or misleading cold-calling for debt management services must cease immediately'.
They go on to say:
'The current economic climate means that it is vitally important that vulnerable people are protected. We will not hesitate to take action against any business that uses misleading calls to advertise debt management services.'
http://news.bbc.co.uk/1/hi/business/8066253.stm
The OFT says that this is the result of a large number of complaints and that it is 'completely unacceptable for Companies to take advantage of people with debt problems...and this practice of illegal or misleading cold-calling for debt management services must cease immediately'.
They go on to say:
'The current economic climate means that it is vitally important that vulnerable people are protected. We will not hesitate to take action against any business that uses misleading calls to advertise debt management services.'
I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS
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Comments
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Does anyone know if they are doing anything about those bl**dy annoying recorded calls asking if you have unmanageable debt? Seriously annoying, I get about 5 a day at work... grrrrr :mad:0
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Does anyone know if they are doing anything about those bl**dy annoying recorded calls asking if you have unmanageable debt? Seriously annoying, I get about 5 a day at work... grrrrr :mad:
Those are exactly the 'companies they are warning.
If you get any of these 'calls' please report them to OFT.I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0 -
Brilliant! Instead of hanging up I'll actually listen and see which company it's from. I hate these calls, they really interupt my working day and sometimes I have to break off from dealing with customers in the shop to answer these calls as it sounds like a customer really desperate to get through...0
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I guess I should have read it properly instead of skim reading it :rolleyes:Those are exactly the 'companies they are warning.
If you get any of these 'calls' please report them to OFT.Mick Gorrill, assistant information commissioner at the ICO, said: "The ICO has received a large number of complaints about automated marketing calls promoting debt management schemes. We have worked closely with the OFT on this issue and welcome the action taken."0 -
Oo Thanks Rog.. :wave:
I caught the last snatch of this on the radio today and wondered what it was about :beer:Very proud of trying to deal with my debts. LBM 04/09
:T
[STRIKE]£34.217[/STRIKE] ~ 05/09. £33.817~ 06/09
to [STRIKE]13 [/STRIKE] 12 creditors. Doing my own DMP. :dance:
DMP mutual support member 309. NSD 12/120 -
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I reported one on Friday that was made to a friends ex-directory number that is registered with TPS.
Keep reporting folks.0
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