Welcome News As Websites Shut To Protect Borrowersposted on 8 April 2011 | posted in Office of Fair Trading | ( 0 ) CommentsNews that the OFT (Office of Fair Trading) has shut down 19 credit lead generation websites has been welcomed by staff at Integrity Financial Services today. An OFT investigation found they were unlicensed and therefore in breach of the Consumer Credit Act. The sites have now been taken down by the businesses concerned or shut down with the cooperation of the website hosts. OFT Press Release It is worrying that these websites targeted vulnerable people and in some cases disabled persons offering them a way to obtain credit. This offer of credit by the form of payday loans in most cases has very high interest and nearly all the time leads to an increase in personal debts. The fact that people were entering their personal details into these sites is a cause for concern, as it opened up a door for other companies to contact and harass the person who submitted the details. The pressure and stress of this is one thing, but if someone is already facing debt problems it increases pressure to take the offer that's either sent to them via email, post or over the telephone. Advisers at Integrity have advised against taking out payday loans, and urge anyone who is facing mounting debt concerns or problems to contact them now. 01743 272900 Share this blog entry:
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