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UK Debt Settlement Company Loses License to Offer Debt Relief Help

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The Office of Fair Trading in the UK has eliminated a debt relief company license to offer debt help. The OFT has decided to revoke the credit licence of First Step Finance Limited (FSF), a large debt resolution company based in Stockport. The OFT has reached this decision because, among other matters, the company: was not sufficiently transparent when describing ... Read More »

UK Debt Relief Companies Criticized for Advance Fees

Research launched today by Lloyds Banking Group and the Money Advice Trust has raised several concerns over the practice of struggling households being charged fees for debt management plans. The research, conducted by the Centre for Research in Social Policy at Loughborough University, suggests that debt management plans set up by fee-charging companies were more likely to fail as arrangements ... Read More »

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