Office of Fair Trading targets misleading debt companies

Wed, 25 Apr 2012

companies are among numerous firms being investigated by the Office of Fair Trading (OFT) regarding the possibility of their names being misleading.

The OFT is publishing guidance designed at preventing customers from becoming confused about a business's commercial status.

Those being targeted are firms using names such as helpline or debtline, which could be construed by many as being references to a charity or public service.

As part of the initiative, it is hoped commercial enterprises will never attempt to mislead those who are in search of impartial and free assistance.

David Fisher, director of consumer credit at the OFT, said: "Businesses are free to choose trading names as long as they are not misleading or otherwise undesirable."

Mr Fisher explained the moniker a business gives itself can be important for customers, especially when they are deciding upon a supplier.

"They should not be misled in this regard," he added.

The impact of any changes is likely to be felt by those struggling with debt, as companies targeted will include those offering assistance or at a reduced rate.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.