• From The BBC:

    One hundred companies offering to write off debts or secure personal injury compensation have been shut down by the Ministry of Justice since April 2007.MoJ spokesman Kevin Rousell said they had been guilty of making misleading claims and using high-pressure sales tactics to get people to pay huge fees. “People desperate for a way out of their financial troubles can be vulnerable,” he said. Consumers were warned to be wary of offers that seem too good to be true. The BBC’s Colette Hume said many claims management firms targeted people who owed large sums to credit card or loan companies. And with the industry growing quickly it was becoming increasingly difficult to police, she added. Cold callingThe MoJ said some of the firms shut down had been using misleading advertising, claiming credit card debt could be written off within six weeks or that 80% of credit agreements were unenforceable. In other cases, companies ignored requests for information from the government’s claims regulator…

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    Posted by Jon @ 3:50 pm

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