'Communicate clearly and fairly' OFT warns consumer credit businesses.

[payback68]

Looks like the OFT are finally growing some teeth.

 

http://www.oft.gov.uk/news-and-updates/press/2011/98-11

 

PB68.

[Bazooka Boo]

I reckon they were just hacked off with them being persistently evasive and ignoring the OFT&TS, hence the removal of their licence! Although it certainly bodes well for all of us to continue with the complaints to the OFT&TS......another one bites the dust, lets see who replaces them and more importantly I wonder who will be buying up their portfolios???

[DonkeyB]

Wonder who’ll be next? Maybe I should call HFO and ask them.

[rebel11]

It is important to lodge a complaint with the OFT, regardless of whether you think they will act or not, how otherwise can they act if no one bothers to lodge a complaint.

[feeemale]

In my view the problem is one of a complete communication breakdown between both parties as a result of the threats that DCA's like to use in their letters.

If you are threatened in life then you will fight back (physically or none physically) that is a natural human response and why humans have survived for thousands of years.

DCA's in general are becoming more hysterical as a result of the economic collapse and even more desperate as a result of people now knowing their rights on the internet.

People are effectively bust these days and the DCA industry is finding out that getting money out of people is like getting blood out of a stone.

Therefore their threats start pushing the boundary of what they think they can get away with.

But they are now finding out that if they are told to get lost then that is what they must do weather they like it or not.

People are answerable to the courts in this country not the DCA's.

In short, no reason for DCA's to even exist at all and the sooner they all shut up shop once and for all the better.

[citizenB]

I havent heard of this company, but it is good news

[payback68]

It is important to lodge a complaint with the OFT, regardless of whether you think they will act or not, how otherwise can they act if no one bothers to lodge a complaint.

 

Totally agree! having been a member of CAG for so long and reading so many threads i think the majority of people have valid complaints against DCA's.

It baffles me as to why they don't follow through with a legitimate complaint to the OFT as it's only a simple email listing grievances and signing a consent form.

The more people complain, the more we will see anouncements like this.

 

Regards

 

PB68.

[DonkeyB]

Totally agree! having been a member of CAG for so long and reading so many threads i think the majority of people have valid complaints against DCA's.

It baffles me as to why they don't follow through with a legitimate complaint to the OFT as it's only a simple email listing grievances and signing a consent form.

The more people complain, the more we will see anouncements like this.

 

Regards

 

PB68.

 

I’ll second that. Get off yer bums and complain! Otherwise they get away with it.

[coledog]

ANY company - big or small who breaks OFT guidelines - it is not difficult, they all do it!

 

OFT http://www.oft.gov.uk/contactus

 

OFT Guidance link

 

This helps when drafting a letter to OFT

 

http://www.consumeractiongroup.co.uk/forum/content.php?416-The-OFT-Debt-collection-guidance

 

The guideline are due to be re-published and be even tougher, apparently, particularly about disputing debts.

[silverfox1961]

I havent heard of this company, but it is good news

 

Having read the tribunal report (and pretty damning at that) it transpires that Mr Greens consumer credit work amounted to about 2% of his overall business which makes me think that he was a commercial debt recovery company. Isn't it amazing how just 2% can bite yer bum!