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|FCA warns clients of three debt management firms to review their debts|
|Thursday, 21 May 2015|
The Financial Conduct Authority (FCA) is warning customers of three debt management firms to check their debt situation with their creditors and find out exactly what they owe. The debt management firms are Sterling Financial Security Limited (Sterling), Haydon Associates Debt Management Consultants Limited (Haydon) and Clear View Finance Limited (Clear View). All three firms are based in Lichfield.
Most customers with debt reduction plans with these firms have been paying 90% of their monthly payments in fees, leaving 10p in the pound to pay down the debts for an unlimited period of time. These firms have failed to comply with the requirements we put in place to provide written statements to customers setting out their debt position.
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