DRF responds to Yvonne Forvargue, MP, on recommending free debt advice.

The advice which is existing according to DRF, Yvonne Forvargue introduced the rule in the house of commons to ensure all fee-charing companies comply.

Yesterday (Wednesday 19 October 2011) Yvonne Forvargue, Labour MP for Makerfield, introduced a ten minute rule in the House of Commons to “to require fee charging debt management companies to inform potential clients of the availability of free advice on debt management“.

The Debt Resolution Forum (DRF), which represents fee-charging debt solutions companies, was surprised by this, as the requirement already exists.

Commenting, DRF Chairman, David Mond of ClearDebt Group plc, said:

“Yvonne Forvargue may be unaware that the Office of Fair Trading’s proposed new debt management guidance already deals with this point, stating that it is improper to fail to“refer the consumer, where appropriate, to a not-for-profit advice organisation for further help”.

“Those debt solutions companies that are members of trade associations like the DRF have high standards and train their staff well, offering an excellent service to debtors. We understand the continued concerns that many have regarding fee-charging debt resolution businesses and we are working to ensure MPs and others understand the changes the industry has made and is continuing to make”.

“The DRF welcomes the interest that Parliament is taking in our industry and we will be writing to the MPs who support this bill to provide more information about the standards and training which DRF members commit to, about the work of the fee-charging debt solutions sector in general and to invite them to meet with DRF in order to learn more”.


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