Debt Collectors to be Investigated
Debt collectors to be probed after concerns raised about fair treatment of customers
11th August 2005
The Office of Fair Trading (OFT) has announced it is to investigate the debt collection industry, after hearing concerns that some companies may not be complying with guidelines set down in 2003.
The guidelines outlaw threatening behaviour by collectors, imposing unfair charges, and refusing to deal with third parties such as Citizens Advice or debt management companies.
Debt collection agencies that breach the guidelines can be punished by withdrawing their licence to operate.
The OFT will publish its report in the spring, after consulting with both debt advice charities and collection agencies.
Read More: BBC : Debt collectors under spotlight
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