The Office of Fair Trading (OFT) has revealed that 35 debt management firms have given up their consumer credit licences following its compliance review.In September last year, the OFT warned 129 firms after a review found widespread problems with compliance.Ray Watson, director of the firm's Consumer Credit Group, said: We are determined to improve standards in this sector, as the failings identified by our review are unacceptable."Companies providing debt management services should be in no doubt that we will act against bad practice and ensure consumers are protected."The OFT is currently updating its debt management guidance to take into account the new unfair business practices that were found in the course of the review.Along with the 35 firms that have surrendered their licences, a further 15 are now facing licensing action.The OFT was established in 1973. It enforces consumer protection and competition laws and acts as the UK's economic regulator.Samantha ClarkeSamantha is a former banking assistant and has over ten years experience in retail banking.
Belmont Thornton Ltd. is regulated by the Ministry of Justice in respect of regulated claims management activities; our registration is recorded on the website www.claimsregulation.gov.uk number 18273
Belmont Thornton Ltd. is incorporated in England and Wales, Company number 6621233, whose head office and registered office is at Suite 2, Unit 25, The Coda Centre, Munster Road, London, SW6 6AW. VAT Registration number 945 3375 06.
Belmont Thornton Ltd is registered with the Information Commissioners Office to ensure compliance with the Data Protection Act 1998 registration number Z1728023 and holds a Credit Consumer License issued by the Office of Fair Trading license number 634655.
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