Debtors ‘at risk’ of gold-buying scams

Those struggling with debt management have been advised to be wary of gold-buying firms that are offering low prices for the metal.

According to the Daily Telegraph, trading standards officers found that prices for a 9ct piece of jewellery varied in prices from different companies, ranging from £17 to £32.

This suggests that those debtors wishing to pawn their gold in return for cash so as to help make ends meet may profit from shopping around first.

Chairman of the regulatory body for councils Lacors, councillor Paul Bettison, was quoted by the paper as saying: “Trading standards officers have uncovered some companies happy to exploit consumers.”

It was also recently made known to debtors by Equifax’s Neil Munroe that telephone scams targeted at those who owe money are on the rise, with criminals offering lump sums in return for upfront payments.

Mr Munroe reminded people that reputable companies do not ask for personal information over the phone.

By Sarah Adie