Debt advice warning: spot the red flags
People seeking debt advice are being urged to watch out for red flags.
Free debt advice is available to everyone. However, the FCA is concerned that some consumers are being steered towards fee-paying debt solutions that may not be suitable for their needs, sometimes through high pressure sales tactics, misleading information or being advised by firms that do not have the appropriate permissions.
Red flags include:
- Pressure tactics: Feeling hassled, or repeatedly contacted, particularly after an online enquiry or unexpected phone call, and being pressured to agree to a debt solution quickly over the phone or via WhatsApp, without time to properly consider their options.
- Changing details:…