CSA Welcomes new OFT Guidance on Debt Collection, says President Sara de Tute

20/10/2011

“The Credit Services Association (CSA), the voice of the UK debt collection industry, has welcomed the publication of the new OFT Debt Collection Guidance having been fully engaged in the review of the previous guidance for a number of years.

We are pleased to see the particular emphasis given to the CSA & DBSG Standard Debt Collection Letter Guidance, which was produced in collaboration with the OFT and is already familiar to CSA members.

We are also pleased to see that the OFT has taken on board a number of recommendations made during the review process, including our proposal to change the section headed ‘debt purchase’ to one of ‘data accuracy’, for the issue is not unique to any one part of the collections industry.

The updated guidance also acts as a reminder to debtors that they should take responsibility and must engage appropriately in the debt recovery process. The guidance stresses the importance of debtors maintaining regular and effective communication with creditors so their information remains accurate and up to date.

The Association will comment in more detail once the full implications of the Guidance have been assessed.”