Debt charities urge best practice in credit industry

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Debt charities urge best practice in credit industry

Thu 25th Feb 2010

Debt charities have called on members of the credit industry to work together to create a policy of best practice.

A report entitled AdviceUK has been compiled by Citizens Advice, the Institute of Money Advisers and the Money Advice Trust, calling on creditors to begin discussions on how debt collection can be improved across all areas.

It focuses on five steps that can be taken within the industry, which cover areas such as creating the right organisational culture, providing information and support and being willing and able to maintain good practice.

Consumer affairs minister Kevin Brennan said: "It's absolutely vital that when people are struggling with debts they get the advice and support they need to address their difficulties in a responsible way."

This report follows the news from the Citizen's Advice Bureau that record numbers of people have been seeking help relating to debt and benefits.

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