which authority regulates debt collection agencies and their code of practises?

Answer 1

All the above answerers are correct, however if you are looking to seek compensation or make a complaint against a particular agency, you will find the office of Fair Trading's white paper on debt collection guidelines extremely useful indeed. It was a consultation document produced in 2005 that a large number of companies participated in to agree 'best practice' guidelines.

While they are not LEGALLY obligated to do follow the advice, the OFT and Trading Standards take a very very dim view of those who do not - I used the guidelines to make Hallifax pay me £1000 compensation - that will teach them to harass me - the bigger companies will do a lot to avoid complaints reaching a regulatory body - but before you can approach any of the regulating bodies you HAVE to have written to their own complaints department outlining your complaint and given them a time frame to reply.

Good luck - until more people complain shonky companies will not change their practices. I used to be a debt collector so I am not against debt collection as a whole - just the nasty companies who use bully boy tactics.

Answer 2

The Federal Trade Commission (FTC). http://www.ftc.gov/bcp/conline/pubs/credit/fdc.htm

Answer 3

The Office of Fair Trading (OFT). Check out their website and guidelines on these companies.

Answer 4

This website deals mostly with business to business credit issues, but some of the information may be helpful to you as a consumer...

http://www.creditmanagementworld.com/legal.html

Answer 5

the fair debt collection act. Find it online and use it to its fullest extent if you are being harrased. and btw one call a day is not harrassment

Answer 6

perhaps the FSA (Financial services authority)

Answer 7

the FTC.