OFT Guidance on Debt Collection

Never-In-Doubt

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Join Date: Aug 2010

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OFT Guidance on Debt Collection

17 February 2011, 13:15

OFT Guidance on Debt Collection

As part of its regulatory role the OFT issues guidance for debt collectors on how to deal fairly with debtors. It is aimed at all consumer credit licence holders and applicants, and applies to collection of debt once an account is in default.

The OFT updated its debt collection guidance to ensure that all creditors, as well as debt collection agencies and debt purchase companies, adhere to expected standards of behaviour and competence when dealing with people in arrears or default on their credit accounts. The OFT will be producing revised debt recovery guidance, which they intend to issue for consultation at the end of January 2011. In advance of this, to help inform their thinking about the content of the revised guidance, the OFT is writing to various interested parties about the problem of inaccurate/incomplete data used in debt recovery.

---> OFT Guidance on Debt Collection (July 2003 - Updated December 2006)

---> OFT Guidance on Debt Collection (January 2011 - To Follow)

---> OFT Useful Resources when dealing with the Consumer Credit Act

---> OFT Guidance on Debt Letters (for creditors)

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Tags: accounts, act, applicants, collectors, companies, consumer, consumer credit, consumer credit act, credit, credit act, creditors, data, debt, debt collection, debt recovery, debtors, default, letters, licence, oft, purchase, recovery, resources, shared, size
Riz

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Join Date: Sep 2010

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#2

17 February 2011, 18:45

Re: OFT Guidance on Debt Collection

Originally posted by Never-In-Doubt View Post

---> OFT Guidance on Debt Collection (January 2011 - To Follow)

Should be out in the next 3 weeks, but even then will only be a 'consultation' document for now.

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