The two trade bodies in the fee-charging debt management industry have decided against a potential merger after talks this week.
Debt Resolution Forum (DRF) today announced that merger talks with rival trade body DEMSA have failed.
Commenting, DRF chairman, David Mond of ClearDebt said:
“We regret to announce that we today received a letter from DEMSA terminating merger discussions. DRF will continue to work for a single body to represent the fee-charging debt management industry, but not at any price.
“It is particularly disappointing, when the industry is at a crossroads, that we cannot agree to move forward to create an industry in which the debtors and creditors can have confidence.
“DRF will maintain our commitment to training, complaints-handling and standards as well as to being a robust voice for the debt resolution industry. We will welcome any company in our sector as members and will welcome a renewed approach from DEMSA at any time, but we will not lower or vary our standards in any area to achieve unity”.
DRF has 40 members and has been applauded for its introduction of its advanced BTEC, the Certificate in Debt Resolution and the introduction of the industry’s first independent complaints panel and independent monitoring and audit, through the Insolvency Practitioner’s Association – with whom DRF has an exclusive agreement.
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