OFT Warns Consumers About Debt Sale Scams

November 11, 2009

The Office of Fair Trading (“OFT”) has warned consumers not to be taken in by companies offering to free them from their debts by buying their liabilities from them.

The warning follows an increase in internet and press advertising by debt and claims management companies stating that they can take over or write off debts by purchasing consumers’ credit agreements.

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Lessons from Down Under

September 11, 2009

We wanted to mention Australia just as an excuse to gloat over the Ashes victory this summer, but finding a link between insolvency and our antipodean cousins was less than easy. Happily, their Supreme Court recently came up with an interesting decision on the Aussie equivalent of wrongful trading.

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