It has been announced that the Advertising Standards Agency has banned an advert by Unfair Credit Direct, referred to as "a claims chaser on Mis-sold Mortgages ". This advert was deemed to be making misleading statements about the proportion of loans that are unenforceable.
This follows warnings to the public to be careful when selecting a company to act for them when making a claim; these could be mis-sold payment protection insurances, or mis-sold mortgages, all companies must be regulated by the Ministry of Justice . The Authority also found the company in question failed to make it clear that a fee applied to its services, clearly misleading consumers.
Unfair Credit Direct’s, advert had a headline "mis-sold mortgages" the text read, "Your unsecured loan and credit card agreements may be unenforceable. Call us now to find out! Do you, know that through brand new legislation 70 per cent of credit agreements may be unenforceable?" It was deemed that this advert was misleading consumers.
The Advertising Standards Agency has concluded that the advert must not appear again in its current form. This follows accusations by industry figures that the claims sector is becoming "full of ambulance chasers, the consumer needs to be careful and ensure all upfront fees are disclosed and statements made are factual and meeting expectations".
Mis-sold Mortgage Claims > Mortgage News
Mis-sold Mortgages advert banned
Wed, 19 May 2010
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