Misleading debt advice sites targeted by watchdog

The UK consumer watchdog, the Office of Fair Trading, has been targeting misleading debt advice sites that are supposed to deal with debt management programmed for consumers but have apparently ended up misleading troubled consumers that are trying hard to get themselves out of debt.

A total of thirteen companies is being targeted by the OFT, which has said that it will take action against the companies. Between them the thirteen firms run around twenty seven websites, and these have been construed as being misleading for consumers by the OFT, which ultimately wants the companies in question to be shut down.

Talking of the suspect firms, an official from the OFT said: ‘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.’

He added: ‘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.’