NOTE FOR THE PUBLIC REGISTER UNDER SECTION 35 OF niE
CONSUMER CREDIT ACT 1974 (THE ACTI
APPLICATION: 644808
APPLICANT: THE MONEY MANAGEMENT SERVICE LTD
('TMMS')
DETERMINATION OF NOTICE: MINDED TO GRANT AN
APPLICATION SUBJECT TO REQUIREMENTS

An adjudicator, acting on behalf of the Office of Fair Trading (OFT), served
a notice on the applicant that she was minded to grant its application
subject to the imposition of requirements. The adjudicator received
representations from the applicant.

SUMMARY OF REASONS FOR ADVERSE DETERMINAnON

Having considered the representations, the adjudicator decided to grant the
application subject to the following requirements:

Requirement 1 : TMMS will not auggem that it provides objective or

Impartial advice.

RequlremMit 2: TMMS ahall eneura that Ita marketing matarlala provide
balanced infonnetlon regarding the advantages., dlaadvantagss and
rtaka of each particular debt aolution.

Requframant 3: TMMS shall not recommend to conaumen that it caaaea

making contractual repayments to creditors without flm advising
them of the rialul that might reautt from auch a course of action.

Requirement
4:
TMMS
shall
clearly
inform
conaumera
in
aU
communications., ahher oral or written. that details of any IVA Into
which they enter wll be hald on a publicly accealble ra~llter.

Requirement 5: TMMS ahall make It clear to conaumera that, In certain
clrcumatanCH, IV.As and bankruptcy will not free them af debt. In
particular. It wll make It claar that only un~acurad debts included
within an IVA may be written off and certain debts ara not capable
of being discharged In bankruptcy. and that the consumer would
remain liable for them even after they have b•n declared bankrupt.

Raquirement 8: TMMS shall ensure that, when aeiRng a financial aarvlce

by a means of distance aalllng. It inform• conaumera that they have

a 14--day cooling off period In accordance with The Financial
Service• (Di.tanca Marketingl Raguladona 2004.

Requirem .. t 7: TMMS ahall enaure that the lnfonnatlon it provides to

con•umer. ragardlng the etatua of debta over time • accurate and
correct.

Requirement 8: TMM& ahall put in place a complaints policy which makea
clear to conaumers that they can refer any unreeolved complaint• to
The Financial Ombud8111an 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
BYA COURT TO HAVE CONTRAVENED THAT STATUTE.

DATE OF DETERMINATION: 2 9 OCT 211Z

Aw-10 I AlhOIIt ~ Npl• NPA