The Office of Fair Trading (OFT) has shut down thirteen websites for misleading consumers.

The watchdog said these debt management companies, which have not been named, are using website addresses similar to non-profit organisations and are deliberately misleading customers.

Ray Watson, OFT credit director, said “We believe they are misleading consumers by holding themselves out as free advice agencies such as Citizens Advice, the Consumer Credit Counseling Service, the Money Advice Trust and Advice UK”.

OFT has said if the firms do not comply, they could lose their consumer credit licenses.

With increasing unemployment, a growing number of people are struggling financially and are searching for debt help online. There are many debt management companies advertising online.

However, they must have a consumer credit license and adhere to the OFT’s debt management guidance.

OFT advises consumers to be vigilant when searching for debt advice online. Companies and websites can be verified on the watchdog’s consumer credit register.

The closure of the websites was welcomed by Teresa Pritchard at the Citizens Advice Bureau. She said “for several years now, we have been getting reports from people approaching the CAB who have been worried about sites and telephone calls they have had from people operating advice sites who have names very similar to ours. This action should mean that we see an end to that“.

For free impartial advice on help with debts please give us a call at Debt Rescue Now on 08450 580 999 and speak to one of our experienced debt advisers.

Debt Rescue Now is a trading name of M60 Mortgages Ltd and is registered in England No 4919445. M60 Mortgages holds a Consumer Credit License No 545476.

Posted 11/05/2009 08:35:22