Urgent warning for debt management customers of failed companies

Three debt management companies ceased trading on 20 May, and the Financial Conduct Authority (FCA) is urgently warning customers who have debt management plans with them to stop making payments.

The companies are Debt Help & Advice Ltd and two affiliated companies, First Step Finance Ltd and Primary Business Solutions Ltd.  All are based in Stockport and have between 3,000 and 3,500 customers.

Debt Help & Advice Ltd used a number of different trading names, so the FCA is also warning that no money should be paid to these organisations either.

Three debt management companies ceased trading on 20 May, and the Financial Conduct Authority (FCA) is urgently warning customers who have debt management plans with them to stop making payments.

The companies are Debt Help & Advice Ltd and two affiliated companies, First Step Finance Ltd and Primary Business Solutions Ltd.  All are based in Stockport and have between 3,000 and 3,500 customers.

Debt Help & Advice Ltd used a number of different trading names, so the FCA is also warning that no money should be paid to these organisations either.

The list of trading names published by the FCA is as follows:

• Atria Finance
• Sales Help and Advice
• Debt Help and Advice
• Mortgagehelpandadvice
• Debt Help & Advice
• DH and A
• DH & A
• debthelpandadvice.com
• debthelpandadvice.co.uk
• dhaa.com
• dhaa.co.uk

Any money which is now paid by customers will not reach their creditors as the debt management plans are no longer operational.

Customers who have questions can contact the FCA’s consumer helpline on 0800 111 6768 (Freephone) or 0300 500 8082 (charged at a local rate for mobile phone users), and press ‘2’.

For the full FCA statement, click here

For more background information on the story, click here

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