Charity: Debt problem may be reflected in selling of possessions
Charity: Debt problem may be reflected in selling of possessions
- Monday, 25 January 2010The selling of treasured possessions can be indicative of an underlying
debt problem, a national charity has claimed.
A new Which? investigation has revealed that people selling their gold by post are being short-changed. The watchdog found one company offering just £38.57 for three pieces of new jewellery purchased for £729.
The TV gold buyers offered on average just six per cent of the retail price.
Commenting on the findings, David Rodger, managing director of national charity the
Debt Advice Foundation, said: "If people are having to resort to selling treasured possessions in this way, then it can be indicative of a more serious underlying
debt problem.
"We would recommend that anyone who is considering doing this in order to meet their monthly credit repayments calls a debt charity first."
The Office of Fair Trading (OFT) has requested information from a number of companies that buy gold from consumers using the postal service whether they are complying with consumer protection legislation.
Among the OFT's concerns is whether consumers' rights to reject an offer for their gold and receive it back are being honoured.

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