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The Money Advice Service has begun a 12-week consultation on creating a single framework for quality standards in the UK debt advice sector. This consultation aims to bring together the free and the fee-charging debt advice sectors to create a set standard of debt advice which will be used by firms within the framework to reassure customers on the service they are receiving. It follows an independent report carried out by debt charity the Money Advice Trust (MAT) earlier this year which confirmed widely held suspicions that there is great diversity in the way debt advice is delivered, monitored and accredited by different organisations. And at a time of high unemployment and rising personal indebtedness the MAS, which took on responsibility for co-ordinating debt advice earlier in 2012, says the framework proposes greater clarity around the role of debt advisers and sets out a minimum range of skills, knowledge and competencies for individuals working in the sector. Caroline Siarkiewicz, head of the UK debt advice programme at the MAS, told Credit Today the consultation was being issued now so that a response could be prepared ahead of the closure of the Financial Services Authority consultation on consumer credit, which should begin in January 2013....More on this story: MAS consults on debt advice framework
Blog pages back in Feb 2012: Money Advice Service reveals new debt tackling measures - allaboutFORUMS
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