NEWS...
Consultation on Guidance Delayed
The OFT's proposed 12-week Collection Guidance Review is still awaiting release – and there's no clear indication of when the process will start.
The OFT has advised the review of the Debt Collection Guidance will now go out to stakeholder consultation, giving creditors and purchasers the chance to provide feedback on the most important issues in the sector.
The first step in updating the guidance will be to write to creditor and other trade bodies about the issues of data accuracy and debt sale and purchase. The responses they get from the consultation will help shape how the guidance on these issues is expanded and updated.
The consultation will take place over 12-weeks, after which time the OFT will consider the comments they receive. However, it is not envisaged that much will change in terms of the current approach to unfair business practices.
CSA and DBSG members can all expect to be included in the discussions and members of both organisations have been strongly urged to get involved and share their points of view.
The finished, updated version of the guidance is expected to be published in the autumn, although this might be delayed, given the late start to the process.
For further information – or to receive a copy of the consultation – simply contact Claire Aynsley, Head of Membership & Compliance on claire.aynsley@csa-uk.com
Original article courtesy of CSA.
