Advertising Standards Authority finds IVA factory ads miselading
Accountancy Age, 12 Apr 2007
Three debt advisors have been warned by advertising watchdog ASA about their marketing tactics.
Begbies Traynor business W3 Debt Solutions, Money Debt & Credit and Accuma were told to alter or stop adverts for exaggerating the benefits for individuals entering into IVAs.
The challeneges against the advertised claims were made by rival IVA provider Debt Free Direct .
For example, DFD challenged Accuma on its advert that claimed people could get up to 80% of their debt wiped off. The ASA said the percentage was not representative of most cases, which would not wipe off as much debt when the firm's fees were taken into account.
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