ARTICLE...
Tessera Viewpoint
Our views on the latest news and events.
Writing from the position of chairman of DBSG, I'm delighted to say that we now have more than 70 members and our new profile enables us to truly speak as the voice of Debt Sale and Purchase when talking to the government, the regulators and of course the press.
I would like to thank all those who attended the focus meeting in May. This was an extremely informative meeting which has helped to clarify a number of issues and identify some others, and has informed our responses to the Department of Business, Enterprise and Regulatory Reform.
First on the agenda was the press release issued by the OFT in April. In response to the press release the DBSG and CSA took immediate action by way of a meeting with the OFT. We highlighted our disappointment that we were not informed of the intention to 'warn' nine of our members, and also discussed the fact that some of the concerns raised by the OFT related to practices as far back as 2005, many of which had already been rectified. The meeting has resulted in a better mutual understanding of the most constructive means to address future issues.
The focus meeting then went on to the Consumer Credit Act 2006 and the requirements to send post contractual information. The problems surrounding the Act were discussed, in particular the issues of sending annual and arrears statements to the last known addresses of known 'gone aways', and to debtors in IVAs. The DBSG is currently working with BERR to secure an exception in these cases. We have responded to a draft Options Paper which will be submitted shortly to the Minister, so that any agreed changes can be made prior to the October 2008 implementation of the new provisions.
In addition to our engagement with BERR, we are currently involved in discussions with the OFT over the exercise of their new powers, with FOS regarding the levels of complaints received under the new regime, and with the ICO in relation to the proposed Tracing Code of Conduct. All of these initiatives have been a great collaborative effort between members of DBSG, CSA and Head Office, and we now have a greater level of engagement with the regulators than we have ever seen before. This consultation will continue apace, ensuring we are in the best possible position to meet the challenges from all stakeholders in debt sale.
There has also been important progress on self-regulation. Discussions within the CSA Board and the DBSG Governing Committee had suggested that an over-arching "consumers charter" may be appropriate, to take in the activities of collection agencies, debt purchasers and tracers, while providing a one stop shop for consumers in terms of how they can expect to be treated by our members.
This has now led to a decision to extend the existing CSA Code of Practice, which is already referred to in existing government and regulatory guidance, while updating the DBSG Code of Conduct and Best Practice guidelines, along with the new Tracing Code of Conduct. The new structure should be ready for discussion at the Annual meetings in September, and will be an important step forward for all involved. DBSG will also be updating our precedent contracts to include spot sale and re-sale.
As part of our ongoing push to promote credit education, I'm sure all members will join me in congratulating those students who successfully passed the latest CSA & DBSG Diploma Course. This course is by no means an easy one to tackle, and this year we had one Distinction, 19 Credits and 39 Passes. Well done to all, and congratulations on your spectacular presentation day, where each student was officially awarded their certificate. Many thanks also to our dedicated and experienced tutors, who do a fantastic job for the Association, and to Gillian Forrest and her team at Head Office.
I would also like to congratulate Claire Aynsley, who has been pivotal to many of our recent initiatives, on her promotion to Head of Membership and Compliance. Well done Claire - keep up the great work!
Finally, if you haven't already done so, I advise you to book your place at the Annual Conference as soon as possible. It is being held on Wednesday 17th and Thursday 18th September at the magnificent Forest Pines in North Lincolnshire.
With so much going on in the world of debt sale this year, this is definitely not an event you can afford to miss.
by Leigh Berkley, Chief Executive, Tessera
Chairman, DBSG
