OFT action against debt advice firm

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The Office of Fair Trading has taken action against a firm over misleading advertising that suggested it was a debt advice charity. The watchdog said it was concerned that false and misleading statements on Money Advice Direct's website encouraged people to believe that it was a not-or-profit organisation providing debt management solutions.

But, in reality, the company, which traded as The UK Insolvency Helpline, made money by introducing people struggling with their debts to commercial firms which set up debt management plans and individual voluntary arrangements.

The OFT has called on Money Advice Direct not to imply that it is impartial or independent, and to make its commercial status clear.

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