As the regulator highlights, introduction fees paid to debt packagers can be £300-400 for Debt Management Plans, and £800-£1200 for Individual Voluntary Arrangements. (2/5)

As a charity offering free, impartial advice across the whole range of debt solutions, it really concerns us that there are both financial incentives, and regulatory loopholes, allowing too many consumers to be put at risk of poor outcomes when looking for debt help (3/5)

We are already working with regulators to encourage them to close these loopholes, but it’s a slow and difficult business as it spans both @TheFCA regulated activities, and non-FCA-regulated activities and firms. (4/5)

Effective scrutiny is key to unpicking the problems.

There is no time to waste as there will be many people needing help post-coronavirus and they are potentially at risk of being hoodwinked into taking out products which in reality are a poor fit for their needs. (5/5)