The OFT has today issued guidance misleading or otherwise undesirable trading names to businesses offering credit services or products. Among other practices, the guidance is designed to stop businesses from misleading consumers about their commercial status by using names such as 'Helpline'or 'Debtline', or any name that implies a business is a charity or public service such as 'Citizens Advice Bureau' or 'Government'. As a general principle of fair business practice, names used by a commercial enterprise should never seek to mislead consumers looking for free, impartial, charitable or public sector assistance.


Similarly, a trading name should not give a misleading or otherwise undesirable indication of:

• the services to be provided
• the cost of the products on offer
• the scale of the business, including its geographical scope
• the relationship of the business to other businesses.

For example, the use of names such as 'Cheap Loans for All', that imply credit is available regardless of the borrower's financial circumstances, is likely to be challenged by the OFT. Similarly, names that indicate some aspect of the cost of a service, such as 'No Interest Loans' or 'Lowest UK Prices', will only be acceptable where there is evidence that the name is an accurate description of the service or product on offer....Read more here