Debt management practices

The guidance for companies providing debt management services was updated in September 2008. It was published in December 2001 following a consultation. 
Download Debt management guidance (pdf 218 kb).

The compliance review was published in November 2003. 
Download Debt management guidance compliance review (pdf 234 kb).

Debt management complaints

If you are an adviser or third party organisation and you would like to complain to the OFT about the practices of those providing debt management services, such as Debt Management Companies and those providing advice and assistance with Individual Voluntary Arrangements (IVAs), please download and complete the complaint form (word file 120 kb) and return it to the OFT by post or email.

The OFT complaints evidence checklist (pdf 84 kb) may be helpful when dealing with complaints against traders who carry out any or all of the following activities when provided to debtors who are consumers or individuals under consumer credit agreements:

• advice on how to restructure debts, how to alter debt payments or how to achieve early resettlement of debts
• contacting creditors in order to make any of the above arrangements (whether that contact amounts to 'negotiation' or not)
• providing a facility for the debtor to make a single repayment which is then distributed on his behalf to his creditors, and
• reviews of the debtors' financial circumstances and/or payments.

Back to: Consumer Credit Act