Debt management plan providers; how to deal with cold calls

Every debt management plan firm is bound to a clear set of regulations specified by the Financial Conduct Authority, which they are legally obliged to abide by as a condition of their official authorisation. Included within these regulations is a distinct protocol about how providers can contact you. If you believe that a debt management plan provider has broken these official rules and contacted you in a manner which breaches the regulations corresponding to contacting customers, then you should make a complaint.

The following page will outline which measures you should take if you happen to be cold-called by a representative from a debt management plan firm.

Can a debt management plan provider cold call me?

The Financial Conduct Authority have set out clear regulations over the manner in which debt management firms can contact existing and prospective customers. These regulations prohibit them from:

  • Cold call you personally, i.e. arrive at your home without being any invitation to do so.
  • Acquire your contact information from an external party without attaining your consent first.
  • Contact you via either telephone, text message or the internet first receiving your authorisation to do so.

I’ve been cold called, what can I do?

If you believe that a representative of a debt management provider has breached one of the above regulations and has contacted you without first receiving your consent to do so, then you should consider launching a complaint against the company. You can do this internally by complaining directly to the firm which the representative works for, or you can go to the Financial Ombudsman Service and voice your grievances there.

If you have been cold called through an unexpected visit from a provider’s representative, then you should refuse to let them in and ask them for their name, who they represent and their contact details. You can then decide whether to launch a complaint against them personally, or the company they are working on behalf of.

You should get the name of the company that the person is representing and think about making a complaint.


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