3 Debt Management Firms Reprieved
The Office of Fair trading (OFT) has said that it will accept the promises of 3 West Yorkshire debt management companies that they will improve their standards.
Buckley Stephens & Co Ltd (trading as Spectrum Financial Protection), Pendragon Financial Services Ltd (trading as Spectrum Financial Protection and Spectrum Financial Solutions), and WKD UK Ltd (trading as Money Tailor) had all received notices that the OFT was considering withdrawing their consumer credit licences after complaints about the way they handled their clients.
It was found that clients were not kept properly informed of the way creditor negotiations were progressing, and that the companies did not having a proper complaints procedure in place.
The firms have now undertaken to rectify these faults, and progress will be closely monitored by West Yorkshire trading standards.
Buckley Stephens and Pendragon Financial Services have also said they will not be taking on any new debt management clients.
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August 10th, 2010 at 6:37 am
Hi there .Thank you very much for useful information
i firmly beleive that The State of Antitrust trading (OFT) has said that it gift swallow the promises of 3 Westernmost Yorkshire debt management companies that they give amend their standards.
September 8th, 2010 at 3:03 pm
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