Creditors, collectors and debt buyers must do more to improve data accuracy the Office of Fair Trading has said. Speaking at the Credit Today collections conference in Manchester yesterday, Jane Shepherd, OFT principal debt policy officer, said: “We feel more needs to be done by every business involved in the process. When you’re acting on data you must have a fair degree of certainty that it is adequate and correct.”

She was speaking following the OFT’s recent publication of updated debt collection guidance, which includes a new section on data accuracy.
Lenders on the panel agreed that systems are often too basic to...Read more here---> OFT issues data accuracy warning