Tweet
The Office of Fair Trading is warning debt collectors not to pursue people who owe them money on social networking sites such as Twitter and Facebook. It is concerned that embarrassing details about their financial problems will be revealed on the internet. The OFT received complaints from debtors who were being pressurised online to pay off loans. The regulator says it could strip perpetrators of their consumer credit licences to deter the practice.
'Vulnerable' online
The Office of Fair Trading has published updated debt collection guidance. It sets out the standards expected of debt collectors, banks, law firms and any business associated with debt recovery.
David Fisher, the OFT's director of consumer credit, said: "In the present economic climate, with....Read more HERE
- Hi & Welcome to the AAD Consumer Forum
We're a FREE consumer debt and legal forum offering help, support and debate in many areas of day-to-day life. You will need to Register a Free Account before you can join in with the discussion and contribute with your own posts. Remember to also check out the FAQ's so you can get to grips with how the forum works ready to start posting your new topics. Read about the new GDPR 2018 Rules and how it affects you as a member of AAD.