Warning of scammers offering to write off your debt

The Financial Conduct Authority believe that there are firms offering unauthorised claims management services to people in the UK.

These firms offer to ‘write off’ debts, mainly mortgages, and get compensation for consumers from their lenders. This might include reclaiming past payments of capital and interest. 

These companies will often charge a fee to deliver this service and may even add extra fees even when the scheme fails. This can lead to a huge loss for those involved.

Fraudsters use these circumstances to appeal to people facing financial difficulties who may be looking for a way out of their debt.

Individuals should be cautious of any firms offering to write-off debt. These scams often increase in times of economic hardship and can involve vulnerable victims who are already struggling with money.

To read more on how we can protect ourselves from scammers and to see the most common type of scams please visit the FCA website here Protect yourself from scams | FCA

Always remember to Take Five to Stop Fraud Take Five – To Stop Fraud | To Stop Fraud (takefive-stopfraud.org.uk)