The FCA is writing to 16,000 customers to tell them the company is no longer authorised to offer debt management services.
Poor debt advice can lead to consumers trying to make payments on their debt that they cannot afford which is particularly serious for those in vulnerable circumstances and why we have paid very close attention to the advice given to consumers by debt management firms, said Jonathan Davidson, the FCAs director of supervision for retail and authorisations.
As part of our authorisation process, all firms must demonstrate that they have customers interests at the heart of their business,” he continued.
PDHL offered debt counselling and advice, as well as negotiating with lenders and arranging repayment plans, w…
Read the full article at: http://www.telegraph.co.uk/business/2016/03/10/city-watchdog-bans-first-big-debt-management-firm/