Review into Debt Management Sector
An independent review of the fee charging debt management sector has been published by the Money Advice Trust which highlights the rapid growth in this sector. According to the review in 1999 there were less than 40 companies who offered a debt management service and there are now over 150 companies in the UK. Money Advice said
“their findings had thrown up a great disparity in the way customers of these debt management companies were treated”
They welcomed a review by the Office of Fair Trading into this sector.
It also showed that many customers were unaware that a free service was also available and that if they had known, they would of rather gone with such service.
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