The Financial Conduct Authority (FCA) has issued a fresh warning to people in need of debt advice about the importance of seeking free, impartial and trustworthy advice. The Regulator has identified several red flags to look out for to ensure consumers are dealing with properly regulated and legitimate debt advice providers.
The 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: Being asked or encouraged to change details about income or outgoings on an application or assessment…