Rev-10 ii AdvDet + reps - NPR

NOTE FOR THE PUBLIC REGISTER UNDER SECTION 35 OF
THE CONSUMER CREDIT ACT 1974 (THE ACT)
LICENCE NO: 633858
LICENSEE: THE ENTITLEMENTS AGENCY LTD (‘TEA’)
DETERMINATION OF MINDED TO IMPOSE REQUIREMENTS
NOTICE

An adjudicator, acting on behalf of the Office of Fair Trading (OFT), served a
notice on the licensee that she was minded to impose requirements on the
licensee. The adjudicator received representations from the licensee.

SUMMARY OF REASONS FOR ADVERSE DETERMINATION

Having considered the representations, the adjudicator decided to impose the
following requirements on the licensee:

Requirement 1: TEA will not suggest that it provides objective or

impartial advice.

Requirement 2: TEA shall ensure that its marketing materials provide

balanced information regarding the advantages, disadvantages and
risks of each particular debt solution.

Requirement 3: TEA shall not recommend to consumers that it ceases

making contractual repayments to creditors without first advising
them of the risks that might result from such a course of action.

Requirement
4:
TEA
shall
clearly
inform
consumers
in
all

communications, either oral or written, that details of any IVA into
which they enter will be held on a publicly accessible register.

Requirement 5: TEA shall make it clear to consumers that, in certain

circumstances, IVAs and bankruptcy will not free them of debt. In
particular, it will make it clear that only unsecured debts included
within an IVA may be written off and certain debts are not capable
of being discharged in bankruptcy, and that the consumer would
remain liable for them even after they have been declared bankrupt.

Requirement 6: TEA shall ensure that, when selling a financial service

by a means of distance selling, it informs consumers that they have
a 14-day cooling off period in accordance with The Financial
Services (Distance Marketing) Regulations 2004.

Rev-10 ii AdvDet + reps - NPR

Requirement 7: TEA shall ensure that the information it provides to

consumers regarding the status of debts over time is accurate and
correct.

Requirement 8: TEA shall put in place a complaints policy which makes

clear to consumers that they can refer any unresolved complaints
to The Financial Ombudsman Service.

Notice of any appeal, which must be given within 28 days of the date on which
notice of the determination is issued, and of its result, will be put on the public
register.

PLEASE NOTE THAT THESE PROCEEDINGS ARE NOT THE SAME AS
THOSE OF A COURT. THEREFORE A FINDING THAT A PERSON HAS
ENGAGED IN CONDUCT WHICH AMOUNTS TO AN OFFENCE OR
CONTRAVENTION OF A STATUTE DOES NOT MEAN THAT THE PERSON
CONCERNED HAS BEEN CONVICTED OF THAT OFFENCE OR BEEN
FOUND BY A COURT TO HAVE CONTRAVENED THAT STATUTE.



DATE OF DETERMINATION: 29TH OCTOBER 2012