NEWS...
Standard Letters Guidance Update
The 'Standard Letters Guidance' has been well received by the industry – with many CSA members already stating that they're looking at making their letters compliant.
One point that has been raised by concerned members was the use of 'misleading terms' – including the use of such terms in trading names. This covers words like 'Enforcement', 'Legal' and 'Solicitors' where there are no qualified members of staff on the teams to back up those 'claims'. However, those companies with a Consumer Credit Licence are not in breach and can continue to use their trading name.
Indeed, the OFT states: “We've mentioned on page 2 of the Standard Letter Guidance Document that we consider issues on a case by case basis. It is very unlikely that we would take action against a trader based on a licensed trading name unless we had clear evidence that the name was being used in a misleading or threatening way.”
The CSA is ensuring the advice is gives to members is up-to-date and accurate and reflects the true spirit of the guidance document.
If you require more information or clarification, contact Claire Aynsley at the CSA on claire.aynsley@csa-uk.com.
Original article, by Claire Aynsley, courtesy of CSA.
