STRUGGLING Brits in debt could save thousands of pounds in fees under new rules.
The Financial Conduct Authority (FCA) is banning debt packager firms from receiving referral fees from debt solution providers.
The move is expected to save struggling Brits thousands of pounds and will help them receive better quality debt advice.
It will put a stop to a business model which incentivises debt packagers to recommend certain options that make them more money, rather than what is in the customer’s best interest.
Debt packager firms are regulated businesses that provide debt advice.
Currently, these companies can take a referral fe…
Read the full article at: https://www.thesun.co.uk/money/22548437/fca-bans-debt-referral-fees-help-save-money/