As provider of your debt management plan it is important we make you aware that many of the statements about loan agreements are not only untrue but dangerously misleading.
Crosshills, West Yorkshire -- (SBWIRE) -- 01/25/2010 -- Independent regulatory bodies are all concerned about companies making these claims, charging vulnerable customers moneys up front and even diverting direct debits paying creditors only to find that the customer is in a worse position than when they began.
The charity Citizens Advice said there had been a recent "rash" of BOGUS adverts from claims handling firms stating that most loan agreements were "unenforceable". Among the BOGUS claims were: "Eighty percent of credit agreements are unenforceable" ; "Fifty million credit agreements are created every year, at least 25 million are unenforceable" ; "We'll get your credit cards written off within 6 weeks!" "Fast results guaranteed!".
The Ministry of Justice (MoJ), who regulate claims companies, have reviewed these claims resulting in an official crackdown on misleading adverts and companies.
The Office of Fair Trading (OFT) have stated that they will not hesitate to take enforcement action against businesses who engage in unfair business practices by deliberately misleading vulnerable consumers about the services they offer.
If you have been contacted by one of these companies it is vital that you contact your personal account manager to obtain an honest opinion on your current situation. Promises that are too good to be true are often just that.
However, if you think you have been sold PPI on either a loan or credit card or have experienced any charges on your credit card you may have a legitimate claim that Debt Advisory Lines sister company, Investor Compensation, regulated by the Ministry of Justice with a valid Consumer Credit Licence may be able to help you with. They work on a no win, no fee basis and could successfully claim £000’s in compensation for you, and most importantly without jeopardising your Debt Management Plan.
If you would like to discuss any concerns you about companies making these claims or have any questions about your debt management plan or Individual Voluntary Arrangement please contact your Personal Account Manager. If you think you have a valid claim against mis sold PPI or want to reclaim any credit card charges going back 6 years please contact our dedicated team on 0800 6888 666