The OFT has found four businesses and/or their associates targeted consumers with misleading unsolicited mailings claiming the recipients may have been mis-sold an Individual Voluntary Arrangement (IVA).

As a result the OFT has revoked the consumer credit licences of:
The companies and/or their associates operated mainly out of the Dorset area. Some were linked to potentially misleading trading names such as 'The IVA Council', 'IVA Review Board' and 'IVA Watchdog'. The businesses were associated with each other in various ways, including through certain common directors.

The mailings sent suggested that bankruptcy may be a better option for consumers, when this may not have been the case. Consumers accepting the advertised services would have had to pay additional fees to switch to a different debt solution that may not have been in their.....Read more HERE