Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

 
Loan claims: OFT issues trading name advice

The Office of Fair Trading (OFT) has issued guidance for firms on misleading names, particularly those making credit card claims or statements about other financial products.

It released these recommendations to prevent corporations from tricking the public by using names such as Helpline or Debtline, as well as other titles that could imply the group is a charity or a government agency.

For example, the public body stated a company calling itself 'Cheap Loans for All' would be implying that everyone can receive credit from it, so businesses with a similar name will be likely to be challenged.

Furthermore, loan claims such as "zero-interest' or 'lowest prices in UK' will only be acceptable if this is deemed to accurately describe the enterprise.

Trading names must not mislead about the cost of products, the services provided, the scale of the organisation or the relationship it has with other businesses.

Commenting on this decision, chief executive of the Money Advice Trust Joanna Elson said: "When someone does take the right step, they deserve better than firms trying to make a profit by deliberately misleading them."

Charles Baker
Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-801345516-ADNFCR



Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B16, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide