StepChange Debt Charity responds to debt-management firm closure

22 May, 2014

Following news that Debt Help and Advice Ltd has ceased trading and today’s announcement by the Financial Conduct Authority (FCA) that the firm’s clients and clients of affiliated companies Primary Business Solutions Ltd and First Step Finance Ltd, should stop making payments immediately, Mike O’Connor chief executive of StepChange Debt Charity said:

“This is a confusing and distressing time for these companies’ clients. Thousands of people who thought that they were dealing with their debts have now been left in limbo. We urge any clients of these firms to contact StepChange Debt Charity, our advisers are aware of the situation and are on standby to offer free and independent advice to anyone who needs it.

“This is not the first time we have seen such firms go under, and as the Financial Conduct Authority places the sector under greater scrutiny, it is unlikely to be the last. Our advice is always for people to seek help from free advice charities such as StepChange Debt Charity in the first place. ”

Further information is available in our closure of Debt Help and Advice Ltd MoneyAware article.