IVA providers slammed by ads watchdog

Three debt advisors have been warned by advertising watchdog
ASA about
their marketing tactics.

Begbies Traynor business W3 Debt Solutions, Money Debt & Credit and
Accuma were told to alter or stop adverts for exaggerating the benefits for
individuals entering into IVAs.

The challeneges against the advertised claims were made by rival IVA provider
Debt Free

For example, DFD challenged Accuma on its advert that claimed people could
get up to 80% of their debt wiped off. The ASA said the percentage was not
representative of most cases, which would not wipe off as much debt when the
firm’s fees were taken into account.

Further reading:

Accuma sees strength in IVA market

IPA considers insolvency-lite licence

IPA to act as debt watchdog

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