The Office of Fair Trading (OFT) is running 300 active consumer credit enforcement cases, amidst an oncoming cut of 25 per cent to its annual budget. The regulator’s annual plan for 2012-13 also reveals that it is continuing its widespread enforcement work, after closing 104 cases during 2011 and 2012. During the past year the OFT revoked the consumer credit licences of four companies which targeted consumers with misleading letters, claiming they had been mis-sold individual voluntary arrangements (IVAs). Since the OFT’s compliance review into debt management firms a year ago, 61 businesses have had their licence taken away....Read more HERE