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OFT targets Aktiv Kapital - 08/09/2009

The Office of Fair Trading (OFT) has told disgruntled consumers that it is considering taking action against debt buyer Aktiv Kapital over collections practices.

A consumer who wrote to the OFT following a Channel four Dispatches programme on debt collection has posted the regulator’s written response on a consumer forum. The letter said: "As I am sure you can appreciate there are restrictions imposed on the OFT which prohibit us from disclosing details of any action we may take against a licensed trader (Part 9 of the Enterprise Act). This means that we are unable to inform members of the public whether we are taking any direct action against particular traders."

However, the letter went on to detail enforcement action already taken against companies in the sector and said: "More recently the OFT has issued a notice that it is minded to impose requirements on Aktiv Kapital (UK) Limited and associated company Thames Credit Limited. This action is subject to the independent adjudication process."

Industry commentators have expressed concern that the OFT has written to a consumer about actions that have not yet been taken. If the OFT does decide to impose requirements on Aktiv it would still have the right to appeal the decision.

Aktiv’s UK country manager David Sheridan confirmed that the company is going through a review process. ‘‘The OFT has sought assurances around some of our historic policies and procedures. We believe in a customer-centric approach and take pride in meeting or exceeding all regulatory, compliance and industry guidance for the sector we work in. We believe that this should be confirmed through this review.’’