FCA freezes accounts of three debt management firms

The regulator, which took over the regulation of consumer credit, which includes debt management, in April, has taken action against Gregson and Brooke Financial Services (trading as Expert Money Solutions), One Tick (trading as Debt Savers Direct and 1-Tick) and the Money Management Service. The three Bolton-based firms cannot now make payments, which means they cannot make further payments to the creditors of their customers. It is advising customers to stop paying the firms as the money will not reach their creditors. It added it was working with the firms, which have between 2,...