The debt management firm PDHL has been shut down by the financial watchdog and can no longer continue business.
The Financial Conduct Authority said it had made a number of failings and it is now contacting its 16,000 customers to tell them where they can find alternative free debt management advice.
The FCA is currently assessing the application of all debt management firms which were previously regulated by the Office of Fair Trading since it took charge of consumer credit on 1 April 2014.
‘Poor advice’: The firm PDHL has been shut down after making a number of failings to customers
Since the FCA took over more than 100 debt management firms, which take a fee from customers to help them clear their debts, have left the market.
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